To be honest, that price is crazy for a 26", rim-brake bike in 2026.
...and...
The market will decide, and the market isn't crazy
Yes. the market ultimately decides the fairness of the price; if it sells, it is fairly priced; if not, the price can be adjusted or the product withdrawn by the seller. Sometimes, the seller solicits opinions about pricing but not in this case. eBay, Gumtree, other listings here and Thorn's own used offerings provide good references for asking prices. Different buyers have differing tastes and preferences
If you want a discussion, maybe the classifieds is not the appropriate place for it.
Yes again, a discussion best made elsewhere, perhaps as a more general standalone topic, re changing market focus, buyer tastes and the effects on used asking prices.
Best, Dan