You're right - they cost more and you can't pay most games with them.
You're right, they have LESS utility since they can only be used with certain titles.
You both seem like you're trying so hard to be super snarky, but I don't disagree with you. You're both absolutely right. But that's not my point.
My point is, the things Outrun listed aren't "elite" or professional controllers. They're gadgets aimed for true enthusiasts who want to get the most authentic simulator/arcade experience. They don't (usually) use these controllers to gain an advantage against other players, they want their gaming experience to be as close as possible to the "real thing".
Wouldn't be surprised if the price was even justified with the wheel and the joystick - they're probably both quite a lot more complex than your regular controller or m+kb.
Literally the only reason the Elite controller exists is to give the player a tiny advantage in competitive shooter games. It's not any more authentic than playing with the standard controller, hell, it may even not be any more enjoyable or fun than playing with the standard controller.
Scuf controllers seem to be aimed at the exclusive kind of "elite", the ones that not only are willing to pay any amount of money for the tiny advantage, but also have this "scuf controllers are only for the BEST OF THE BEST" mentality. When MS decided to spend valuable conference time - conference that I'd argue is aimed at the "regular" gamers far more than the super hardcore competitive ones that pay for Scuf controllers - telling us about their version of the competitive controller, people took it as MS trying to make the custom competitive controller more mainstream and accessible to everyone. Not like a "hey look at us, we want to take this time to pander to the 0.00001% of our playerbase" type of message, but more of the "forget those overpriced Scuf controllers, now YOU can also be part of the elite!" type.
As it stands, 150 bucks is a stupid price tag. For the elite best of the best, it's a slightly cheaper alternative to Scuf controllers - but without the COOL customization and SWEET brand value. They can shell out a bit more to get an awesome and super recognizable Scuf controller. Why would they bother with a boring-looking Microsoft one?
For the regular gamers, which is like pretty much everyone here, it's just a controller with a couple of more buttons and exchangeable sticks and d-pad. Over twice the price of the regular controller is absurd to them.
I feel like the controller alienates both parties.
e: also the fact that everyone who thinks the controller is overpriced is a whining, ignorant idiot is kind of telling how fucking stupid we've become as consumers. You people make me sad.