I've played on $200 basses that I've loved, and I've played on $5000 basses that I've loved. I've never played an Alembic, nor have I played a Fedora. Honestly, I would only try one on pure curiosity with absolutely no intention to buy it.
The fact of the matter is this; Bass guitars are simply made by brands, weather big or small, cheap or inexpensive (There IS a difference), or lavish and expensive, whatever! All these companies are in competition for our money. It's like going to the store for a jar of salsa. Pace is a big brand for that part of the market, but when I reach for a good salsa, I choose a particular store brand. There's nothing wrong with Pace. It's good! But the Kroger Private Selection that I buy tastes better and costs less. Of course that's only my opinion, but taste is always subjective and can't be quantified. The same is often true in musical instruments.
In the end, in many cases, consumers are simply paying for a name, plain and simple, and in big names come cost. I understand that wood, hardware, and components cost money, as does labour. We're paying for all of this and more when we buy an instrument. It doesn't matter if something was "hand crafted" or "Machine crafted". They're ALL machine crafted! All those power tools? Yep. Thought so.
We're paying people's paychecks when we buy a bass, weather it be the CEO, someone in production, marketing, or whatever. We're paying for materials, we're paying for power to run equipment and lights. Seriously, how much do YOU think it costs to run Fender? Their marketing costs alone is staggering! They easily pay more annually for marketing than most people make in a year! But we're also paying for staplers, computers, toilet paper, maintenance, etc.
Now I'm not saying that companies like Fedora or Alembic don't over price for what you get. I'm sure they're fine instruments, but personally, I think buying $10,000 instruments is completely ridiculous, but hey...to each their own. Again, you're paying for a NAME. If someone wants to pay their prices, great! More power to them! Do I think that the customer is "ripped off"? Absolutely not. In the end, it comes down to what someone wants. It comes down to a question of "How much is owning this brand worth to ME?".