I bought an electric folding mountain bike for $500 a few years ago and is great for riding through the trails and hills around my area. I don't think I could spend more than $1000 on any type of bike without feeling like I wasted my money.
it depends, is it a crazy bike like an S Works Epic 8? the price tag is fucked but if the bike doesn't break for 15 years and you use the bike for 15 years I think it was worth it in a way, depends how active of a person you are I guess