Not true... I paid $70 for my Dakine tailgate pad.I don't think you can draw a direct correlation between the price of a bike to the price of a bike rack. A bike has lots of small pieces with much tighter tolerances. Think about hydraulic brakes for example. They are just one part of a bike and the level of complexity is far above what is essentially a stationary tray with some sort of arm.
I do, however, think you can draw a correlation between what bikers will pay for a bike rack based on what they pay for bikes.
Then again, you could say that I paid WAY more since I got the truck mostly for hauling bikes.