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Come to think of it, most all of the Spydercos that I actually want to own are usually collaborations; Lum's fixed blades like the Tanto and the Darn Dao, or the Brend/Pirella Mamba that I own. The only other Spydie in the collection is a Tatanka, because it's so comically huge.
But I agree with you, at that $200+ price point, I'm expecting a high end blade steel like 20CV, M390, Elmax, CTS-XHP or whatever, ball bearing pivots, CF or something nicer than G10 on a liner lock or lockback, and titanium on a frame lock.
Spyderco was the hot ticket in the 90's and early 00's if you were wanting a folding knife that wasn't a traditional brass bolstered lockback ala the Buck 110 or a Swiss Army knife.
Apparently Spyderco has a very, VERY devoted following, as I see knives posted for sale on the various secondary market fora and they sell quickly and command significant fractions of street price. I'm talking active fora like bladeforums and the knife_swap subreddit and other dedicated buy/sell/trade sites.