Bordeaux Prices So High It's Immoral?

There's been a controversy brewing over the prices of Bordeaux, and it doesn't appear to be settling down anytime soon. Recently in an article in a French magazine the former head of Richemont, Alain-Dominique Perrin, said that prices as high as €500 a bottle ($725) are "immoral."

The argument stems from estimates that production only costs about €12 per bottle (which would make €500 a markup of about 80 times) and that price tags should come down to about €100/$145 to be reasonable. The other sides says that costs aren't that low in many cases, and that most importantly they aren't able to give details and "don't want to get in an argument" over pricing.

Wow, what do you think?