You just described the demise of the high end GPU market.
Sportscars- bad analogy. Sportscars are a visible status symbol and icon of conspicuous consumption, and a 20 year old sportscar can often be more valuable than a brand new one. How much do you think you will get for a GTX Titan in 20 years' time? The price really can't survive being pushed much higher. Even on a tech enthusiast forum like this, what percentage of users were actually willing to pay the initial $1000 price for a Titan?
You're also ignoring the matter of shared R&D costs. The high volume low-end market subsidises R&D, developing the same GCN/Kepler cores that go into the high end cards. End of low end sales = reduction in R&D funding for dGPUs.
And the "pushing the low end higher" story is pretty ridiculous. A HD7770 is low end now? A 100W, 123mm^2 chip is the low end? How high can you push the definition of low end before you run out of die size and TDP budget? By pushing the definition of "low end", what you are actually describing is the gradual shrinking of the dGPU market. Those people who used to buy things like the HD6570, HD5450, HD6450 aren't all buying HD7770s now; they're using integrated graphics. That's a segment of the market that is gone forever, and isn't coming back.