While I agree with everything you said regarding the stratification of prices and the market, there's a bit more to it than that.
This is an example of putting a product into an area where the vast majority of buyers have no idea what the hell they're even looking at. Case in point, look at this thread. This game is 15+ years old, pirate carts and ROM downloads out the wazzoo, is a darling of internet video game humor sites, yet several in this thread had no idea about it. When you put something out there that buyers don't have any experience with, one of two things happens; either it tanks and doesn't sell because everyone's scratching their heads, or it gets overpriced because it's OMG RARE IMPORT L@@K.
In Parodius Duh's defense, if you are interested in unlicensed carts, you can find this for at or under $15 easily, all day long. Hell, I've got a copy of the original game it's based (Squirrel King) on in this selling forum right now for $10! Also off the top of my head
http://www.famicong.com/ has it for under $15, and their stuff is outrageous.
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