For me personally, it comes down to what sort of premium the manufacturer is charging for a 'signature' guitar. A 10% premium over a stock standard model I think is OK. I'd even go to 20%.
However I see some manufacturers charging 100%, sometimes even up to 500% for an artist model. Not sure about that at all, but then again, if there is a market of collectors that will pay that, then I guess market forces will dictate. In any case, I don't like how these prices are set based on some presupposed hype and expected demand.
What happens when the pricing has missed the mark? What if company 'X' has a guitar model 'Y' which normally sells for $2000. Then they release an 'Artist Z' model of 'Y' which sells for $8000. They may sell half of their initial release to the avid collectors and die hard fans, but then the remaining inventory sits around for a while. 6 months later they mark down the signature series to $4000 to clear them out.
How would the early adopters feel to have their 'investments' halved just like that? Just because some corporate MBA got a little bit greedy ahead of time?
Personally, I consider myself a big Joe B fan, and yes, watching him play a Gold Top LP has made me desire one, but I really don't know if I will actually go out to buy the signature Gold Top - even though I can afford to. I would rather get a Historic Shop '57 Gold Top Reissue and make some minor mods to suit my playing style and tone.
JBLP Gold Top #129 - redubbed "#1 in Oz"