Like others have said, it is a very subjective thing. A lot of people view Coach as a "bridge" brand, and thus they wouldn't buy it because they have "moved on" to higher-end products. Ultimately, it really does come down to being a brand snob. It seems that some people have to put down other people or other brands to make themselves or their brands seem high enough. I think it is sad, really.
Regardless of price points, there are people who love Coach, its history and its products. There are others who don't, regardless of price. Then there are those who judge a brand based on its price point or its snob appeal. It could be a woman who buys LV or Hermes thinking Coach is low-end or a woman who buys Coach thinking Guess is low-end.
I like Coach, and right now it is in my price range. I also like LV and will probably soon have one. Does that mean that I will have moved on and abandoned Coach? Absolutely not. I think Coach has some great styles and provides excellent value for the dollar regardless of how it is viewed by others.