Perhaps, if you were expecting to sell one copy @ $16. But your argument is invalid at internet scale. $.99 games sell millions of volume.
I'm not going to spend $14.99 on it because there are alternative products for cheaper or free. Demand will dictate the price, I simply suggested that 4.99 might be a better price point but that he should look at the data first.
It's not a game, though. It's a professional utility for gainfully employed designers, who can either expense it to their MegaCorp, or if they're independent, consider it an investment in their career.
Think about how much the Adobe Suite costs. $16 is not too much for this audience.
I'm not going to spend $14.99 on it because there are alternative products for cheaper or free. Demand will dictate the price, I simply suggested that 4.99 might be a better price point but that he should look at the data first.