Yes it's really still a high price. It's very easy to compare Bitcoin to everything that is bigger than it - often people are absurd with their comparisons and go as far as to compare to global money supply, global gold market cap, global equities markets, global fixed income, etc.
What you never hear from these same people is how Bitcoin is already bigger than Visa despite the fact ... wait for it... Visa handles TRILLIONS of dollars worth of transactions. It's not apples to apples for several reasons, the biggest being that Bitcoin acts as the token for these transactions meaning the value of Bitcoin comes from the value of the transactions rather than the transaction fees, but it's so many orders of magnitude behind that we can infer it shouldn't even close to this price based on being a transaction medium.
Furthermore, the digital gold argument associates Bitcoin with being a store of value. Yet if this were true, why aren't people putting 100% of their value into Bitcoin? Bitcoin has had several bubble pops throughout history, absurd falls of over 80%. The digital gold argument falls apart the moment that happens.
The best reason to justify Bitcoin's current price is that it will replace fiat currencies very soon (20 years-ish), hence the present value is justified due to absurdly high future value. However, I see that possibility as infinitesimally small due to the fact that governments would have to accept Bitcoin for taxes / debt which is a conundrum in of itself, deflationary currencies likely won't work well supporting a global economy, and host of other reasons that I probably shouldn't list in a response to a comment. But I hope that illustrates the point.
RE: Why I'm Negative on Bitcoin