Another historical footnote
Incomes, prices, and distribution have all changed over the years.
Consider this. In 1968, a first-generation FF (Lotus 51, Renault 'box, Cortina engine, steel wheels) cost about Corvette money. Today, a new FF costs about Corvette money. Factor in the qualitative improvements in race cars (shocks, data, wheels, engine, gearbox), and today's new FF arguably costs 'less' than 50 years ago.
On edit: Of course, Corvettes have seen similar qualitative improvements in that time. Plus, they don't cost $1K or $2K to run each weekend. :)