FYI the production cost of that bag is estimated to be $800... so a mark up of 1250%.
A true economist would say the critics are hypocrites given the cup of coffee or bottled water every other passenger carry onboard carry a mark up of 1500 and 2000 percent respectively. They are also consumed within minutes and hold zero resale value.
Sorry about your bag, no doubt it was important to you and you worked very hard to buy it. I hope you are able to restore it to it's previous condition.