On this week’s Bonanza!, Matt Alexander made a really clever observation (emphasis mine) regarding the Apple Watch:

I remember when we first sold a $500 watch at Need, and the reactions from the world were “What on Earth are you doing!?”

[…]

It’s really impressive to see how easily and how competently [Apple] can convince people to buy something they would have never thought to buy before.

To which Myke Hurley replied:

That’s their magic.

Indeed.