I am sure I probably have that much invested in cables right now. But for the sound quality they are providing it is a good investment, as were those on previous versions of my system.
I am always conscious of the amount of sonic improvement I get per investment thousand (I'd be crazy to think in terms of individual dollars). Once I have carefully chosen my components, then I can get more out of them for incrementally less money with high end interconnects and cables. I then tend to stop upgrading for around ten years until I can afford to upgrade to the next level. Typically I upgrade wires before vibration control, after I have upgraded components.
Iv'e occasionally made a mis-step with cables... early in my career. But I know a few cable companies well and what they are compatible with so I don't have a cabinet full of new and not being used wires.