Earlier quoted context omitted.
I remember paying about $1000 per port for 100 megabit switches.
Ha! But they delivered that much value (or more), so the market supported the price until supply flooded. We could do worse for a transformative technology ranking metric than "How overpriced was this when first released?" (significant look at Nvidia cards)
And here I have sitting next to me a 48 port gigabit switch that cost 15% of what that 100 megabit switch cost in 1996 or so. Iirc it was one of the first D-link products I bought, it definitely wasn't great (it ran pretty hot) but it worked quite well enough. Amazing progress.