The high cost is a bit weird considering they made all the Edition 1
maps freely available on their web site, as well as a few extra
Edition 2, 3, 4 & 5 maps that weren't covered by Edition 1.
The only consolation might be that a good condition original edition 1
costs a lot more - in excess of $300 on eBay - and they don't come up
very often.
Presumably some people might buy the Edition 1 reproduction as an
investment, but I'm not sure they will increase in value over time, at
least not in the short term.
I did manage to score a good condition 7th edition (1974) for about
$20 a couple of years ago. Maybe I was just lucky.
What I find a bit odd is a 2015 Melway is listed as $62.95 on their
web site, yet the same directory is $45.95 at Officeworks.
Regards
Andrew