In an upgrade situation they get a P45/P45+ back in exchange, which is worth quite a bit to them, and can be sold for a good sum. in the US P45+'s seem to be holding at ~23k, secondhand. To expect someone to add $17.5k onto that is asking full list price, which is zero discount to loyal customers.
Its pitched far too high - they can't punish old US Phase owners for buying into their company many years ago with astronomical upgrade prices. If European prices are (as a previous poster stated): old P45+ price = new P65+ price, then an upgrade should cost what it did to go from a P25 to P45 (same scenario - new chip, new electronics, but same screen/package) allowing for inflation, maybe this should be $8 or $9k, but $17,500 is off the chart. People who bought a P45/P45+ in the US when the $:Euro was at a better rate did well, but that's their good fortune, not for Phase to claw back now, which quite frankly it seems they are trying to do here.
agree with above - they badly need to do an early adopters program to get it rolling, many people are going to balk in the US at this level. I am fortunate enough to be able to access these funds, but would rather buy an Alpa Max or Cambo and pay $10k off my mortgage than this. which is probably what I will do!