The difference between $200 v $750/night hotel room is HUGE.
I've stayed in both.
You are out of your mind and have never stayed in both to say that. Now, the difference between $350 v $450/500/night is not huge. But yeah, $750/night is gonna get you as you put the "nice" things and um, the nice things are typically nice cause you know, I better be paying for nice things at $750/night
And agree with PP - location is a huge factor in pricing. All things being equal, location is worth extra $ to me as it is in any real estate transaction.
When we stay on $1k/night on vacations which is a 2BR for our family in Bend OR, typically these places have location and comfort and a slew of nice amenities incl activity options we have to pay extra for but are presented as options at least. When we go to Ocean City NJ and stay at the $350/night motels we also have location but not comfort, so it's somewhat dependent on where geographically you are talking about.