Would we balk at the price if it were a flagship Naim or Krell or Bryston or from some other 'high end' outfit?.
Until products like the P9 and Apheta and Elicit came along, Rega were always considered a budget/mid-fi company with 'stripped down', no-fuss products designed with engineering integrity, overseen by an owner who was an engineer and musician, and never touted at shows or even advertised. Even the packaging is utilitarian.
A bit stark and even cheap (where it never really mattered like turntable lid hinges) and traditionally not prone to price pumping frou-frou's like inch thick CNC machined fascias or gold-plated volume controls.
I am certain some of this approach was calculated (just a little) to reinforce Rega's.. "does what it says on the tin" type honesty and - in this day and age - the 'Soviet' style packaging probably costs just as much as the more 'flashy' variety to produce!
I have read some people - in the past - opining that Rega had 'sold out' by dabbling in the high-end, but the praise for their flagship products up until now has been louder than the sort of critics who felt that Rega should never have even made a CD player at all !
I wish them well with the new Isis and Osiris products and the forthcoming high-end turntable (reputed to be priced way above the P9) even though I will not be able to afford them myself.
Hopefully the engineering and technology will trickle down to us lesser mortal's systems in time.