It is not like I need another hobby - but I am a little surprised - folks pay $600 for a hunting knife?
WTH am I missing -
All that you are missing is an appreciation for well crafted knives and an understanding for those people who have values for "stuff" which differs from your own. Neither of you is right and neither wrong; just different.
That appreciation for those type knives is no different than an appreciation for fine autos, fine 1911 handguns, fine watches, fine shotguns or any other well crafted item. Just because you don't have a honed appreciation for these items doesn't mean they are overpriced in any way.
Currently on Glock Talk there is a thread from BAC about his new Atlas Gunworks Hyperion handgun, which I had never even heard of before. A quick look on their website shows the retail on these handguns to be $5,000 or plus. I would never, ever spend that much on a handgun, but I can appreciate the gun itself and BACs wanting and buying one. However, earlier this year I did spend a bit more than that on a nice mid-range Italian O/U shotgun, but that's different. Right?
Same as the current thread on this Okie Corral about gun guys liking quality watches. A watch in the league of those shown and mentioned in that thread is something I never wanted for myself when I was younger and couldn't afford one anyway or now when I can pretty much afford any watch I want. What I use is a Casio G Shock for non-dress wear and a older $120 Seiko watch from Sam's Club for a dress watch. But, I don't wonder in amazement at those who own high end watches.
Early in my work career I knew a man who owned a $5,000 Rolex, a gift from his wife. He was a mechanic and she a secretary. This was in the latter 70's and you can imagine what that watch took out of their salary that year. Both he and she thought it was worth it, and I thought their appreciation for that watch was great. Had I inherited that same watch from a rich uncle I would have sold it to buy something I wanted and valued a whole lot more.
Bottom line is that different people have different values for "stuff" and there is nothing wrong with that at all.