You've made several good points there. Another point would be that a lot of luxury bag buyers would never accept Coach as a luxury brand, no matter if they came with a $3000 price tag. So, not only would they alienate those mid range customers with the high price tags, they wouldn't necessarily draw in the more upscale buyers. Just because the price tag may be in the luxury price range, that doesn't mean their brand will be accepted by those in that income bracket.
I totally agree with this. People buy premier brands not only for the quality, but also for the branding and the perception that the bag is a status item. I never bought for this reason. I was a Bal Gal because of the yummy leathers and the styling. But many buy labels for the label and the "It bag" status. Those buyers will never consider Coach a premium bag I agree.