Another ATV guy here but I will eventually own a relatively basic Defender down the line.
I don't really think the prices are that out of line if you look at what highest priced ATVs sold for in the heyday of the 1980s. Honda TRX250R, Quadzilla, Banshees sold for about $4k back then. But while these were top of the line hot rods, they still don't compare to today's Side by Sides in terms of amenities and goodies, and the list is long. The dollar just doesn't go as far as it did in the past, inflation. Do I want to spend more than $25k when I decide it's time to get a Defender for around our property? Nope. I just don't need a top of the line four door model. I'll shop within my needs and budget. This is where I appreciate that the manufacturers have so many offerings and trim levels for these machines. Which is also something that didn't exist back in the day, options. Even with the ATVs (at least with Can Am and Polaris) there is a plethora of options and packages to choose from for the same model. Factory 2-up capability, different engine sizes, different build specialties (XMR, XXC and the like), all these choices. There's something for everyone