I think people underestimated Kanye's influence. No one could have foreseen how he would shift the sneaker market like this. I still remember when the original black and purple Ultra Boost was sitting on shelves and could be had at discount last year. Then Kanye was caught wearing them and all of a sudden they became a commodity.
Even if Adidas still is well behind Nike in terms of market share, the brand's growing influence is undeniable. At the very least, perception is a really powerful thing.
I'm not mad at people who enjoy UBs and NMDs- I've owned a couple of pairs before and can't deny how comfortable they are. I do think they are overpriced, however, and I'm still shocked at how much old GRs are now reselling for. I resonate with everything's that already been stated. In the end, people are paying the premium not for the product itself but really for what the kind of status the product represents (however fabricated that status may be).
I ended up selling the few pairs of Ultra Boosts I had... so I could buy more New Balances, lol. Call me a fanboy, but in all my years collecting sneakers I've never experienced quality on my feet the way I have with NB.