Part of it is that legal work has high risk if done wrong so people tend to prefer large firms and high prices since it offers peace of mind, even if there's no real difference.
Can you imagine trying to sue a global law firm for malpractice? Are you aware that everything gets pushed down to the lowest, least experienced associate because that’s built into the business model?
Some firms are better than others, but I just simply don’t trust any of them any more.
Edit: I also don’t have too much respect for senior partners at big law firms any more. What kind of person cedes that much of their personal equity? If they were really great, they’d take their clients and run away from the huge, dysfunctional cost structure of BigLaw.
That’s not what the previous person said. People just think they’re paying a premium to get it done right, when as you point out, price is uncorrelated to correctness
You are failing to put yourself into the customer's shoes. Maybe you don't buy into it, but clearly customers do.
I don't know what the legal disruptor market strategy is, but going on what you've said, they shouldn't be differentiating on price. Rather, use reputation against the incumbents, somehow.
To be super clear: I support disruptors in this space. My gripe is with customer/clients that are holding change back for reasons that are against their own best interests.