You're not wrong, though I'd think most non bike enthusiasts wouldn't even think about a titanium bike.
As far as the bike crowd goes, I'm sure a good portion won't be buying something fully assembled and will instead opt for just the frame here which seems to only be $1300. Still a pretty penny, but damn if it doesn't show its worth.
For that kind of money, I can buy the tools required to make my own made-to-measure frame, the DIY RETUL used for finding my perfect-fit, the tubing & pieces, etc, & have the most bespoke bike possible for me to have, AND have the tools to build other stuff, too..
Wouldn't be titanium, but if I wanted to do Ti, then the tubing's a couple of dollars per inch, & it has to be DC TIG welded, ttbomk, instead of brazed, to it'd be a steeper learning-curve, but still possible..
Why the hell would anybody want a road bike, is the real question..