L&W pricing doesn't come close to other offers in the Indian market. SS, SG, RNS, KG, Protos, MRF, Champ, RS, DSC etc have very good options in the USD 200 to 250 range. SS LE, SG Sunny Tonny, Robinson Pro, Champ Elite, DSC condor flite etc fall in the range of 225 to 250 USD range. Laver legend (which is usually their G2 offering) is priced at 18000 INR i.e 240 USD(approx), seems a bit higher end of the pricing side. But its definitely cheaper than paying USD 299 + shipping for the same bat from NZ. So I am guessing L&W have done their market research before pricing each of these models for the subcontinent.
Whist I see your point and have had the opportunity to review many of the bats you identify as it's competition, I don't agree completely. These are mass production offerings, whilst Laver tries to appeal to the discerning cricketer. It's the luxury option. Who cares if it plays no better or worse then the others.
Mercedes continues to make some real lemon's though the 2000's to mid 2015 , but they represent a lifestyle, so they still sell plenty.
So the Indian market (and surrounding states) targeted is the players with cash (#i'm rich biatch) who can buy whatever they want and therefore like to have something that is more prestigious. I think it is a great move for them and if they can keep their standards high will pay dividends.
That said the bat nerds like us, see past the labels and look for sheer performance and bang for buck....and huge edges.