I've seen one of the new level 80+ wands for 2.5 million and figured that it must be very difficult to make since that particular seller always has fair prices. Then, I checked on this site and found that you need five ingredients to make it. While it looks cool it should have far better stats given the difficulty it is to make that particular wand.

So a lot of it isn't greed, but a reflection of the challenge it is to make such items.