500$ Statue vs 500$ Skin
Statue:
Collectors Item, Only 2488 Pieces produced, Limited Purchase Time (due to limited product stock), potential to go up in value, physical product, decorative piece, extensive light and sound effects that are remote controlled, people love it and admire the craftsmanship (personal experience)
Skin:
Digital License, Infinite Stock, Limited Purchase Time (due to artificial scarcity marketing strategy), doesn‘t go up in value (selling accounts is against TOS), you say 1 bad word and the skin is gone forever, people make fun of you and think you‘re stupid if you bought it (personal experience)
I personally don‘t really care about skins being this expensive and I bought the 200$ Sett skin and will buy the Mordekaiser skin too, but thats because my job revolves around this game and I have too much money
I do not know how any normal human being would buy a skin that high priced when you could just get stuff like a statue which is also about the game but actually worth something