The more expensive P&S models, including -- but not limited to -- those made by Leica, Kyocera (Contax) and Rollei (QZ series and Rollei 35 AFM) still seem to command a very high price. With some, it's about the lens or manual controls or quality of construction. With others, it's more about the reputation of the brand.
With a couple of exceptions, the Japanese camera makers (Nikon, Olympus, Pentax, Kyocera (Yashica and Kyocera), Canon, Konica, Minolta and others) pushed so many lower-priced models onto the market with such great frequency that it diminished the value of the existing products. Similar to what is happening with the digital P&S market -- used P&S models are essentially valueless when compared with their original sales price.
The Nikon 35Ti (and siblings) and the Konica Hexar and a couple of others were higher-spec'ed products aimed at a different buyer.
As well, much of the consumer-level product was -- to put it rather unkindly -- crap. Thrift shops are full of plastic P&S models for $3 or less, and if you were to cover up the nameplate, you'd be hard-pressed to tell who made it. Nor would you care, because most are constructed from a low grade of plastic, which didn't wear well.
Now, that doesn't mean that they aren't good cameras. Over the years, I've bought some of these here and there. This summer, I gave a Chinon (don't know the model and don't care) to let my daughter take on her summer camp. If it was dropped or got lost or stolen -- I didn't care. There were plenty more if that happened.
The photos were suitably sharp, and in the end that's all that mattered to her. And in the end, that's all that mattered to most of the people who bought these cameras. These are the '80s and '90s versions of the Instamatics, 110 cartridge and plastic 127 cameras of yesteryear.
But I agree that most of the higher-priced P&S models sell for too much. And that's because the market will bear what people are willing to pay.
Some were absurdly expensive when they arrived on the market. The Rollei QZ 35T, for example, retailed for $1,500. Excellent camera, but an entry-level SLR would give you equally good photos and more flexibility.
By the way, the word "mint" is inaccurately used most of the time on eBay and in photo forums.