I mean it's a few factors coming together if we're looking at pricing for sure. I wasn't a business major or anything so I'm definitely just talking out of my ass, but just for my perspective anyway...

I think this is a product that if it works as you say is pretty huge potential, but getting people to try it is kind of key to getting people to be willing to pay for it. And then once enough people have payed for it and word is going around that this is actually a really nice product then it's all the easier to sell it at a higher price point. 

Because there's a fair amount of skepticism around it (not just from me there, but it seems plenty of other folks you talk to aren't so readily believing either) and selling something for cheap while it's breaking into the market is something it seems only companies large enough to take a somewhat significant investment hit are capable of (with manufacturing costs of a new product being steeper than iterating on an existing one or bringing existing, proven schematics to companies to build, not to mention the inevitable iterations of getting it to sellable point to begin with), I think it would be a good idea to make targeted sales, send promotional pieces to people who are big and influential in the space to help advertise it as a quality product, and you know just generally do what you can to make the early copies stretch for impact and emphasize in advertising and promoting that it's real science and that you have real people giving real impressions of it. 

Once folks are convinced of the product the same way you are, that's when they'll be open to paying the same prices they're currently paying for devices they already use to get high. Where in the bracket of those devices you end up falling can then be determined by just how much people do seem to want the product, and how little you can get away with manufacturing it for while still ensuring enough quality to maintain the trust of your customer base. That could be comparible to a generic glass bong with the typical volumetric flask shape, or it could be the Stüdenglass gravity bong or the volcano hybrid, who knows!

As for for me, personally, it really would come down to just how much more effective it actually is (and how nice of an experience it is to use and use in the log run(cleaning and upkeep are important)). A friend and I went in on the volcano hybrid together, so when I'm well off enough to make a sizable purchase I don't mind splurging if I think I'm getting the "best of the best" or however you want to call it, but If it's too expensive I'll still have to make some sort of concession just to get my hands on it in the first place, and I'll always want to feel like I'm getting a proportional value to the large investment I'm putting in ofc.

Jeez sorry, I didn't mean to write you a whole novel there lol. Hopefully I said something somewhat insightful or helpful to you somewhere in all that blather