Should preface my reply in that I consider myself a practical audiophile, more about about the content when I spend my music budget. Which is partially why I have to DIY much of my hardware.
I guess you can't take it with you. Seems to me he's taking advantage of people who've gone off their rockers, but I guess what's collectible has always be subject to popular whim. In any case, hot stamping is pretty much snake oil (or worse) in my opinion. I'll pay a few bucks more to the record store for a known good copy but I'm talking like $50. Once the price goes north of about $25 I'm more likely to spend it on a new record from a contemporary band in any case.
Anyone familiar with how records used to be made and mastered would know that in a lot of cases the first pressings were done on Dynagroove machines and often are the worst sounding ones on modern turntables. They were mastered for the average record player found in the 1960s and 1970s, which were pretty lousy in comparison to even a $400 'table now. The later pressings or reissues are less harsh.