At the risk of having a backside like the Grand Canyon from sitting on the fence, I'm kind of between the two camps on this question.
I do agree that the rapid fire price rises have been difficult to swallow and some ELC product must have very significant margins, though my personal experience and journey through life has never found ELC to be particularly cheap since the 1980's, and perhaps paradoxically, for me personally I'm probably at a point in my life where they're at their most affordable.
Some things I'd suggest though are not overly excessive for what they are. For example, the John Lofgren boots are not overly marked up and I'd go so far as to suggest are reasonably good value. ELC hold significant stock and you can get superb boots you desire (and far superior to Red Wing, IMHO) virtually next day (UK customers). In the UK you can also try
https://eastwestapparel.co.uk/ who are run by a very nice guy called Jamie and he is a little cheaper but it feels like he doesn't carry such huge stock and you may have to wait. I use Jamie for Lofgren boots and his service and communication is top notch. If you want the tankers though, I think ELC are your only UK option, but I haven't checked the market rigorously. Adn let's not forget ELC service is top notch too, at least in my experience.
I will continue to buy ELC jackets and other items if I like them and the yearning sets off. I would like a Perry B-3 but whether I get one is open to question purely because of the amount of days in a UK year I would wear one. The Elite series doesn't really appeal to me - I love painted jackets, but I'd rather have a unique one rather than one others have "off the shelf" and that's regardless of cost.
And back to the service point, ELC stands by its product and there's a phone line you can call and speak to real living friendly people, "stuff" is generally in stock, and even if its not you're not waiting months for it to be made. And the ability to deliver that consistency costs money.
I do agree the demographic and customer profile that ELC target is likely evolving and changing, but I still think there's room for folk like us. But lets face it most of us (but not all I agree) with an ongoing WWII fascination are somewhere around middle age and upwards and ELC needs a business model beyond us.
And there's plenty far more expensive than ELC selling repro Vintage product. Check out
https://clutch-cafe.com/ and others. How much is a Real McCoys A-2 these days? Or even an RM C-2 sweater?
For the real passionate and bargain hunters there is this forum, and I often wonder if we should have some sort of buyers guide or table for kit. For example, I think Platon's Dubow A-2, Soldier of Fortune 6505 kitbag, Bronson C-2 sweater and WWII Impressions M-42 Service Shoes are the current bargain 4 or 5 star products with any star loss been down to "variable" customer service. And the "variable" is a kind word based on how I feel with one of these suppliers right now. With ELC you just don't get these sort of woes, but you pay for the luxury.
Of course there are exceptions, Shawn's amazing work is looking really good, particularly, imho, his new shearling jackets. But Five Star is likely operating in a different economic paradigm with a likely different cost base to ELC or Platon or even possible Bronson and in other posts most of us here have also bemoaned globalization at some point but we like Five Stars prices (and product) so vote with our wallets accepting any little compromises, even though Shawn does his utmost to correct them. Isn't this what we've previously bemoaned with the likes of Levis etc? Btw, I do not mean this as negative about Five Star, the jackets are great and the dedication to the product and our customer demand deserves its recognition. I'm just trying to set a bit of context how I see it.
Now I've chucked that in I 'll go and get a coffee! Cheers all!