When users pay a premium price, they usually have money to spare, or a dispensable income, and are less likely to complain when it’s not meeting living up to expectations.
It is however better to make sure your product is valuable by not creating wasteful features and one can do that by using your own product, you can estimate the value.
Reference
Ferriss, Timothy. The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich. Expanded and Updated ed., 1st revised ed, Crown Publishers, 2009.
Highlights or timestamps
Third, to attract the right customers, you should give your product a high price point: somewhere between $50 and $200. This will not only give your product a premium image; it’ll also increase your profit margins and decrease the likelihood of complaints. The logic here is that anyone who’s prepared to dish out that much money will be less likely to complain if the product doesn’t live up to expectations; they’ll have money to spare and won’t care enough about the loss to make a fuss.
— ^8c360d from The 4-Hour Workweek