I've only bought a few things from Lomography (because I'm cheap), but really, it makes me very happy that someone is vigerously and successfully marketing film gimmicks to the kids. I mean, really -- 110 film? There was very little love for it even when it was mainstream. Yet Lomo' brings it back for a novelty. Good for them!
Frankly, Lomography has turned toy camera film phototography into a fashion/lifestyle statement, and that is a category that makes you pay.
Complaining about L's prices is like saying "You paid 800$ for those shoes? I could have found those at Goodwill if I spent every third day of my life looking".
Also, on one hand everyone cringes when they stopped producing 35mm movie cameras, but then when Lomo makes NEW cameras to sell to the kids, they get nothing but guff.
Reminds me a lot of the old punk rocker complaint about it not being cool anymore, now that everyone knows about it.