Cookware is like any other tools. The heirloom stuff that was hand-made costs real money. It did even back in the day when a pan was made. Even with the advent of machine-made cast iron in the '50s it wasn't as cheap as a Lodge is today.
That was a bunch of money back then.
My wife says cast is too heavy for her to use, so the majority of mine is stacked up in the basement and comes out when we're car camping. We use a professional set of coated aluminum pans for every day use. They work fine, but if it was just me I would only use the cast. I've got six antique Dutch ovens from 2q to a 24q monster chili pot. I love Dutch oven cooking either over the fire or using briquets depending on what's going on.
We have a bunch of enamel coated cast Staub casserole, paella, and baking dishes (we got as wedding presents) that we use all the time.
A sharpened set of Walmart knives up will cut shit up just as good as a block of Shun's, but I swear that every time I pull a knife out to cut something there is a detectable smile on my face. Is it worth it just to not have to sharpen them as much? No. It's worth it because they're beautiful, it's something I use every day, and it makes it makes me happy to use them like a set of mass produced knives wouldn't. Sometimes it's the little things.
This is no different than shooting matches with a $10k-$15K rifle, or spending money on anything else that makes you happy. Sometimes the price doesn't simply reflect the calculus of functionality. Other stuff I could give a shit about, so give me the Harbor Freight one.
Eating and shooting are really high on my list of values.