[x0x0]

Maybe, but not necessarily.

When I price out eg contractors, I know roughly what a senior SE should cost. Where I live, that's $150/hour.

If you come in at $75, I don't assume you're a bargain. I assume there's something wrong with you. Either you're not good, or are just starting out, or whatever the case may be.

In this case, just like I bet the tailor, the point isn't paying more for status. The point is that a service should cost X, so someone going way under cost worries the buyer.