The Indy, which predated the Octane, started much lower ($5k according to Wikipedia, presumably in mid-nineties dollars), but yeah your point very much stands.
Still, sure did stand out in the MIT computer labs!
Whatever I had, I don't recall lack of memory ever being a problem. And the GUI was quite snappy.
No big surprise that the Indy side always filled up first, and that "everyone" soon had XEarth and similar running as backgrounds on the Indys... Of course "everyone" loved SGI and were thoroughly unimpressed with Sun after a semester in those labs.