If they were overpriced people wouldn't buy them... Something is only worth what people will pay for it, Apple sell plenty of devices at the pice points they choose.
As for lock in... Not sure how they are any different from any other company...
I'll give my most recent example of why I'll never buy an Apple product again due to Apple's anti-competitive practices.
I installed Dell Voice (a VOIP app that gives you a number to receive calls with) on my wife's iPhone and registered an account/number for her via the app. This app is available for iOS, Android, your PC, and whatever else they care to come out with it on. However, when I later went to sign her in on her Android tablet it came up with a message of "due to an agreement with Apple you cannot use a Dell Voice account on an Android device that was registered from an iPhone".
The sad thing is I wasn't at all surprised by this, that's just the typical monopolistic anti-competitive lock in style that Apple pushes. I remember at first you couldn't even get VOIP apps for the iPhone for anti-competitive reasons, so it doesn't surprise me they are still trying to control it anyway they can.
Without realizing this restriction existed, I registered my own Dell Voice account/number from the PC app first. No problems using it on my new droid phone here. Lucky me I guess.
Anyway, don't get me started on the emulators, etc ...