Revisiting Penfolds pricing for a moment - clearly nobody in their right minds will pay retail list prices but still chances do appear - on Apr 7 this year i bought a doz 2012 389 from Dan's at sub $58 - is that not value? Didn't a bunch here climb all over the 2013 / 2014 St Henri through CM last year at about $38ea after the $10/$100 discounts? I ended up with 18 of those. 407 was on special at a very reasonable rate early last year at Dan's also - I have good supply Penfolds in the Cellar and will continue to do so whilst procurable at these prices.
To add to this I have picked up RWT 2015 (?) at sub-$100 prices through CM, which is a very appropriate price.
RRPs are a stretch for Penfolds, but hardly alone in this regard; consider Grant Burge Meshach/Shadrach for example. Plenty of wineries going down this route to try and segment the market a little bit. IMO it's distasteful and perhaps a bit short-sighted as consumers move to better value wines due to intimidating (but rarely realised) RRPs.
However, their top end wines are still fantastic, often exemplary, all the grimy sales tactics in the world doesn't change that.