Bottom line, NONE of the guys making "boutique" instruments (personally, I really dislike that term...

) are getting rich, some are doing OK maybe, but no one is driving a Ferrari that I know of. Brian made some excellent observations, there is SO MUCH MORE to the equation than how the bodies and/or necks are rough cut or routed or both. Being in my position, I see ALL of the costs of running the business, and it's heartbreaking, in all honesty, some days. However, everyone I know in this business is here because we LOVE what we do, and all of the frustration, long hours, insanely low pay, and other irritations don't make us feel any less love for our work.
"Hand made"??? No one I know truly "hand makes" bass guitars. Even if you just use a simple spokeshave and a chisel to do EVERYTHING, you're not "hand making" anything.
Where is the line?
To me: The care and love that those building the instrument put into every little thing that they do while building an instrument. What you are paying for is the difference in "mojo" between an assembly-line cookie-cutter bass that is built buy several hundred people that have no clue how to even play the instrument (which can still be a very viable instrument!) and the one built by a single person or small group of people that truly give a $h!t about the end result of every little thing they do in the course of building each and every instrument - the ones that come in at 6 am to start working, the ones that are there at midnight still working, the ones that are there on their "day off" to get something right instead of just punching a clock.
Who gives a rat's @$ if they do it with their fingernails or a CNC machine - the end result is what matters.