Had to think on this one before answering. I have about 10 Emersons, including 2 customs, and by and large, I like them.
"So why the high price? Are they made with meticulous fit and finish? Silky smooth opening?"
Silly questions, sound like an attempt to stir the pot instead of get actual answers.
High price? Probably because it's what the market will bear.
Meticulous fit and finish? As others have said, not what they are known for. CRK has won numerous quality awards, all justified, IMO; Emerson hasn't. Tells you the answer right there.
Silky smooth opening? No, see previous answer. That wouldn't justify a high price regardless, so why throw that in?
I carry Emerson knives because of Ernie Emerson. Many knives from China these days meet those criteria for the same money or less - but they come from China, and that factors into my decision at least as much as cost or "value." Some are even more expensive, along with others from Taiwan or Japan (I'm thinking Spyderco and Cold Steel), and if you like them, and feel you are getting good value for the money, buy them. I've met Sal Glesser, good guy, I like his knives, and his son is doing a great job; I have no problems carrying and using Spydies, but I'm not tossing my Emersons to carry them exclusively.
I have met with and talked to Ernie Emerson, and I think he's worth supporting. Not because of his connection to the SpecOps community, or his sense of humor, or his martial arts prowess: it's because I think he's an honorable guy, a good knife designer, and a good maker. His customs are an entirely different animal than his production knives. I suspect it's because he does the work on the customs and the production knives are just that: production. The QC does not rival CRK, or Reate, or countless others - but the knives I have bought have been solid performers and no significant issues. Ernie designs good knives based on his personal experiences and tends to think in martial arts terms. I find the ergos generally excellent: they fit my hands well, YMMV.
I don't like every design, I don't buy every one out there, and I hold onto my money when a lot of the special issues come out direct from the factory because they seem pricey for what you're getting, and I know a lot of Emerson guys feel the same way. The secondary market is fine, and you can get a good knife for that money. Nobody has to buy Emerson knives, or any other: personal preference rules. If you think they're worth it, great; if not, fine. Buy what you like based on your personal criteria, and everybody else will do the same. It's your money: spend it however you choose.
Feel free to start some controversy by substituting Microtech or Benchmade or any other brand - and expect the same type of responses.