I see bats like shopping at Waitrose. You pay a bit more for the quality of the product, but you really pay for the customer service associated with that product.
If I ever paid £400 for a cricket bat... (A lovely thought!) I would want them to offer full bat customisation options (Handle, Grains, Profile, Weight etc - Discussion with bat maker), full hand preparation service, full refurbish service for the life of the bat and a no quibble guarantee that if that bat breaks within the first year (From general wear), it is repaired/replaced within 14 days.
A lot of big companies have been influenced by cheaper Indian brands in terms of quality and ability to turn out cheap bats, hitting profit margins, so has been a bigger drive towards efficiency - They really should concentrate on customer service. I think that's how companies such as Salix, Newbery, M&H have achieved what they have. I use John @ Red Ink and the reason I will buy more from him is the quality of his customer service - though the bats easily rival the ones I used to get from my Newbery sponsorship.