Absolutely not IMO. Most people have no need of the features in the highest end models of pram. Some of them do have standout features which are worth paying for, but only if you'll actually benefit from that feature, and honestly, looking at the amount they have increased in cost over the last 20 or so years - much faster than inflation - so much of it is marketing, greed, and the companies pushing the envelope on the amount they can get people to spend. For comparison if you look at the Argos catalog for winter 1999/2000, the most expensive buggy is a Maxi Cosi 3-in-1, state of the art for the time, two way seat and separate carrycot, absolutely deluxe. £199. Look at Argos today and sort prams/pushchairs by highest price and the most expensive are sitting around £800 (there are a couple higher). An inflation calculator says that £199 in 2000 is equivalent to £360 today. So £800 is over twice as expensive.
There is also an element of the fact that some of the higher end prams are expensive purely for the fact that people know they are expensive so some of the prestige comes from the fact that other people will see you pushing a pram which is known to be expensive. The pram version of designer branding. Oh yes, with influencer culture etc this is now absolutely a thing.
There is a whole experience built in - expectant parents shown around all the models and then invited to customise it as though it is a car 
When I worked in a baby shop I was really gobsmacked by this and the amounts that people would casually spend. I could see why all the companies are absolutely clamouring at expectant parents - there are a certain sector who will plough a LOT of money - thousands - into creating the perfect experience for their little prince/princess.
If you want new, there are models which are less heavily marketed but will do what you want - you do have to choose whether you want pretty, or gadgety, or robust, but you can get either. Even for the higher end models TBH, there are only a few that reliably do all 3.
If you're willing to buy second hand, as many people have said this is also a great option especially for the higher end brands. It's generally possible to mix and match a new car seat on too if you want to.
You say car seats have to be expensive - there is truth in this to an extent, but there are also higher end car seats pushed by salespeople which have inflated costs, compared to a cheaper car seat which will protect your baby in an accident just as well but costs about a quarter of the price. I suspect the same is true for pushchairs - a certain amount of cost associated with decent workmanship and high quality materials, but then some inflated costs for prestige and branding.