Is a bat worth 500? No, and it's probably wise we stop referencing them - it's an infinitely narrow section of a batmakers target market that are dumb enough to blindly think money = best for all bats (although I'd still argue there is some correlation on that front) and have wardrobes/houses full of similar Veblen-y goods, or have a penchant for showing off. Or shop at Hammer (

).
So, if we limit our bats to the 'real world' spectrum of, say bats up to £350 (call it a standard top end M&H with an x% discount), is it worth it?
I'd argue, yes.
The problem lies in cynical or unscrupulous (or, realistically, entirely unresponsive to customer reviews/word of mouth) lies in the upgrading of clefts...because they can. I still think it's a complete fallacy that we/most people can judge a bats true eventual performance (and longevity) at point of purchase. A mallet test on an un-knocked-in bat tells you as little as the grain count IMO (whilst I agree that
some of us could indeed pick up that magic cleft by sight and sound, the vast majority IMO just
think they can). Eliminating duds is a perhaps better use of the in-shop-mallet-whack.
Why is a £350 value? Because, if you've picked the right brand (be it the batmaker or shop picker), they undoubtedly will save the best for the 'whales' that are willing to spend top whack on a bat. If you can afford it, do it. It's not for everyone, though those that do spend top whack on a bat shouldn't be confused with the mugs in the first paragraph, for it is those that are supporting a UK industry purchasing a typically custom product. There's a fair bit of virtue in this IMO. Not to mention it's those £350 bats that pay for the batmakers (similar length of) time spent on the lower clefts/duds. Of course this isn't for everyone, and there is a whopping sense of diminishing returns after, say £180. But it's not the cheapest of productions - years spent as an apprentice and the actual time picking/shaping/grading a cleft can't really find many shortcuts.
There is something a bit sad that no bat will last forever (I once thought (justified!) spending a fair bit on a bat as I'd take great pride in Dan Jnr wielding it (as I did my Dad's old bat- albeit in the garden) though soon learnt that might not be the case!).
The current vogue of bat inflation is a big worry, and something we as a market should work towards restricting. Sadly (IMO Value-less/cynical) brands like Spartan/Hammer black/GN Legend should not be encouraged.