Can't agree on this one, for the BEST performing stuffs on the market, inflated value is always the case, yes it is no where near the saviour for the poor, but considering it is the best SKU for gaming at the moment, it isn't bad value, as the extra performance means it can sustain useful framerates for more years to come, you forgot to consider the time aspect into the math, which when considered, isn't a bad value in a lot of consumer's opinion.
At this moment of time, yes you can have much better value for a 12600k, still giving usable frames at half the price, but the 9800X3D or the 7800X3D will likely able to sustain playable framerates for 2-4 years extra, which upon the cost per frame per service time, it isn't that much if any overpriced compared to the older SKUs. Don't forget if you buy anything intel at this moment you have no option to just swarp another $400 CPU in it in next 2 years, but AM5 have at least 2-3 years of new SKUs releasing.