Hello Mark,
I agree. And we just have to consider that this new APO lens has not the "average enthusiast" as a target market, but those limited number of photographers who want just the best optics technically possible, and in a very small and compact size.
And concerning the price it should also be considered that these lenses are designed to serve for many decades. Even the next generation(s) will be able to use them. Leica lenses are very sustainable products.
Not as my former cheap third party lenses, which have started to "falling apart" just after 20 years of very cautious and careful use.......
Well, that is a bit unfair, as Leica has meanwhile introduced a whole line of affordable lenses: the Summarit M line. Very compact lenses all with a f2.4 max aperture.
In general I find it quite amazing how Leica has increased the whole M camera line with different cameras and even much different lenses to cater to quite different customer groups (including film photographers; the demand for Leica M film cameras is by the way strongly increasing and meanwhile so high, that Leica's film M production is running at full capacity, and nevertheless demand is surpassing supply).
If someone would have told us 20 years ago, that the M system would have this great variety in 2021, we probably would have said he is totally crazy......

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Best regards,
Henning