Overpriced is relative term but you're correct the sixties and seventies are long over and automotive paint is really expensive. Thank goodness those chameleon colors went out of style. I think others have mentioned Band-Aid style repairs as opposed to fixing it correctly also. That just seems awfully expensive compared to other brands of block sealers that also have good reviews and can provide long-term results. I've only used three or four different kinds myself and nothing seems to be permanent but if you drive them easy sometimes you can get a good amount of time before having to do the real repair or as friends of mine did when I use the pour and go just traded it in after a couple weeks. But it was a daily driver and driveable up until that point.
Many things are a lot more expensive due to inflation but not everything has gone up in price. Some things are the same price. Some things are cheaper adjusted for inflation. And some things are actually cheaper than they were 20 30 years ago. Computer equipment and parts are dirt cheap compared to what they were. I can still get an orange for a quarter during the peak season. I buy milk now cheaper than I bought milk in 1990.
For those the quality is the same so the prices have come down. For the things like car parts where it's weird that things like alternators and starters have gone up in price but other things like sensors, valves, and things that are small and easy to make and ship from China, those prices are a lot cheaper. Now the quality can be quite a conundrum.
There are things today that the same company or similar companies are making the same or similar item they were 20 or 30 years ago and their costs have gone down due to automation or at worst their cost have risen very little but they are charging three and four times if not more what they did then simply because they can. This is called greed.
I'm not saying it's right or wrong I'm just pointing it out. I run at least two separate businesses and I also take advantage of charging what I can in one of those businesses. The other one I am dirt cheap and like half price. Just stating facts and pointing out anomalies in this world..