It isn't that it is too expensive. I've spent more than $200 on knives before, and I plan on doing it several more times before June.
But I feel there are many knives (some of them Kershaws) that offer more for less, or *WAY* knife more for only slighly more money. I have a thing for G-10, and a thing for titanium. So at a cheaper price, the Spec and Blue Bumps appeal to me more, as do many non-Kershaw knives. Technology will never draw me as well as lust does. I've never been a gizmo collector. The hybrid Prius was a technological breakthrough. That doesn't mean I'd rather have spent my 20K on it instead of my old-tech but exciting SRT-4.
The Offset is on my wanted list, but my wanted list is very long. There is a lot of competition out there, even with other Kershaw knives.
I know the Offset is ground-breaking in the knife industry, but I feel (and I think you admitted) that the technology is commanding a premium right now because it is unique. Personally, I do not feel it is worth it at the moment. Well, not as worth it as some of the other knives I want. But I would pay 200, or even 250 for an Offset. Just not before I buy a couple Bumps, a 710, an SMF, a Titan, a Mnandi, a Lone Wolf Harsey, a Commander etc... etc...
So I do want an Offset, and I will pay $200 for it. But there are a lot of knives out there, and with the technology commanding a premium, a decent amount of them look more attractive to me right now than the Offset does.