Quoted from jlm33:
Can't be price only. Or you would not see a single Hobbit sold. Or MMr. Or TBL. Or Magic Girl. Or RAZA.
Allergy to the preorder model, Non licensed theme and DMD are additional reasons. Limited exposure to the game is another.
Was - and is still - proud to be among the 50 nonetheless.
Sure, it's not price alone. But you have to look at what you're getting for the price. Original theme is super cool, love that. But it doesn't have the nostalgia kick for people, it's harder to move an original theme, like it or not.
Plain DMD is another. MMr has an LCD (supposedly full color someday, we'll see). TBL, full color widescreen LCD. Hobbit, huge LCD, lots of quality animation. They're expensive, but you're getting more for your money.
The sounds are a big mystery. MMr obviously isn't. TBL has movie clips, but also 24 (or is it 26, I forget) licensed songs. Hobbit has Thiel on the music and movie clips.
Etc. (I'm leaving Jpop's vaporware out of this.)
If you're going to try and charge $8k for your game you've got to compete at the level of other games in that price range IMHO. Being an original theme and a boutique game is already an uphill fight. Anything that handicaps you is just going to make the hill steeper.
I hope Riot finds a way to succeed. But ultimately for what they're offering it's an expensive game and a tough sell.