It's the lack of transparency that is the most nauseating. If they had announced the price when they increased it, rather than the vague message about limited availability and prices, most people would have fucked it off. If you're 50000 in the queue and you know that they are £350, then at least you know what's coming. If you wish to proceed and are happy to pay the price, then more fool the person that does.
It's taking advantage of the most dedicated. After queueing for 8 hours, it puts people in an awful position.