Extremely true - No ones wants to feel the fool.
The previous buyers of our high priced sets didn't reach that financially secure point in life, by being foolish. As long as that $1,500 set was in all likelihood going to continue to go up in value, it didn't matter that it was $100 a few years earlier. You also had the eager early buyers, who were looking to be smart, by buying it up for $1,000.
All of the reasons that would justify being an eager buyer are gone. Nowadays, no one is left kicking themselves (a few months down the line) after not overpaying earlier.
Now, the smart thing to do is just wait - during which time, prices are going down (which actually makes a set seem less appealing), re-releases are happening (which increases uncertainty for a buyer), and that impulsive buyers interests have moved elsewhere.