While the merits of AB's greatness/Top 100 are tossed about and, of course, subject to personal preferences, all should agree that the experience is one of the game's more unique. By that measure, the price is a 'bargain'.
By way of comparison, look at restaurants or wine. You can get a perfectly good entree/bottle for $15-20. That price can be GREATLY increased on other options. GREATLY. Does that make the food/wine that much better? No. But the experience is so unique that it 'justifies' the cost (and time).
And, while no one likes long rounds, the views/hills offer an opportunity to golf and enjoy panoramas.
Played at Ballybunion last year in 5.3 hrs and took in many great views from atop dunes while waiting on shots. Special.
Side note: previously heard the wind reason for the short pins. If Turnberry, BB, Lahinch and others can survive the winds, why not AB?