What are your opinions on $300+ fragrances?

I feel with Louis Vuitton coming out with their line of fragrances and more niche brands (PDM, MFK and Frederic Malle) being found in department stores that $300 fragrances are not scoffed at or seen as being a waste of money by nearly as many people. Social media has given exposure to fragrances that would otherwise only be attained by the wealthy due to their price and availability (boutiques or online only).

I would consider myself part of the group that would see very expensive fragrances as ridiculous prior to getting into the fragrance community, but what are your thoughts?