I can agree to the 'over-hyped' part, but what exactly do you mean when you say, 'lack of true competition'? If a Deluxe without a feature set offered by Piaggio and/or YBR can be sold for more than 120k, I am pretty sure YBR can be sold for higher than 130k.
Yamaha is obviously targeting 'wealthy' individuals, with a mind set that 'if its pricey, it must be good'; so its a given that these individuals might not care about the excessive cost. (Personally, I am baffled by the cost of spare parts - They have to localize the parts quickly or its going to backfire badly)