As the OP, you can probably work out my view: I judge on what it's worth to me, not what it cost to produce. It's pretty much all been said in the thread, but I'd just like to add a couple of thoughts.
After a working life in application development and application management (and AM is the hard bit!) I know how hard it is to produce high quality software. It's not even theoretically possible to produce bug-free software (that's another subject, if anyone wants a thread in the Community Lounge, but definitely off topic here.)
I see the only ways to get software of the richness, quality and longevity that we all want is through co-operative development, or by proprietary products: and by that I mean either open source, or with the backing of a major corporate such as ADOBE, or from the camera manufacturers. We can each make our own choice based on whatever criteria are most important to us.
As and example of what will eventually wither: for several years I used a product called Picture Window Pro (PWP). It had some quite advanced features, notably curves, at at a price around that of PSE when PSE was really a toy. (Interestingly, it was written by the guy who wrote Lotus 123, if anyone remembers the days when Microsoft and Apple weren't the only players around). Sadly, it just couldn't keep pace, and I only recently uninstalled it from my PC.
So I don't expect the PP software marketplace to get broader - though the future position of Android may make life interesting.