Overpriced? Maybe. I'm getting pretty average wage and am able to buy a peripheral when I need or simply want it.
Bad quality? I've had several mice from Razer now, first one lasted 6+ years, 2nd one 3+ (still working), and I've just got my 3rd one for gaming on the go. Tried their keyboards, a headset, headphones, keypads... I dunno, don't really have anything to complain about.