For all intents and purposes, the price that one is willing to pay for a pair of shoes are very subjective.
One may balk at paying anything more than $100-200 on a pair of shoes, while another may think nothing of spending a few thousand bucks on a pair of bespoke shoes with personalized lasts and all.
Of course it has been mentioned many times by fellow forumers that the utility that one derives from spending say, $1000 on a pair of shoes might not necessarily be 5 times that from a pair that costs $200. I cannot agree more with that, speaking from experience.
That being said, a proper, well made pair of shoes (GY welted, full grain leather, etc) will most probably outlast another pair that is cemented and made from corrected grain leather by a mile, on a cost-per-wear basis.