Old ladies know the value of a decent small batch yarn, especially if they’re of the generation that knit around the clock as a necessity. Boomers and Gen X largely didn’t knit, at least generally, so they’re pretty out of touch. They may perceive knitting as something with little value - either taking it for granted that knit goods cost little due to slave and machine labor, or taking it for granted that their mother or grandmother gave them knits for free.
Many millenials and Gen Z have tried yarn crafts, and at least vaguely know it’s a shit ton of work.
The oldest boomers are 77 right now. I’d definitely put that into the old ladies category.
Most of the boomers I know all knitted or crocheted (or sewed!) because it was still required for Home Ec classes.
Most of the millennials & Gen Z folks I know haven’t touched yarn or crafting hobbies and would have no clue on pricing.
We must live around very different groups of people.