Is it me or is this ludicrous?
It's not you. The high price is justified however as cable marketers put some real innovative work into the design of these cables.
What's ludicrous is that there's no audible benefits; they do not "disappear" more than any other simple 12 awg cable made of pure copper and PE insulation.
The upgrade path proposed by exotic cable manufacturers is always more copper... entry-level is 16 awg or smaller, going larger as you move up the line. Double the copper...
LOW R,L,C is KING over everything else; that's where the real differences are; the key is to not screw it up with bad connectors... choose pure copper / silver terminations also.