My $0.02: I think there's an entitlement problem with some people.

Many WordCamps have set a high bar with outstanding content and activities that trump expensive conferences. After a while, it's what attendees expect as the norm. Pay $20, get educated and fed for a day (or two).

WordPress, as a platform, also has to deal with that: Free or cheap plugins and themes, free software. Build an entire site without paying for more than hosting and a domain. Heck, I've seen folks balk at the idea of paying for a Gravity Forms license because they can't fathom paying for a plugin.

Events like PodsCamp, WooConf, Pressnomics, etc... that deviate from the WordCamp norm, that set a higher price or shift the focus, are a good thing. It's a sign of the industry maturing beyond the neighbourly, global collectives of WordCamps.

All of these events fulfill a need, I think, otherwise people wouldn't be going to them. :)