Low hundreds makes sense to me. Everything else to me screams it's just hype/bubble.
In January, many thought that $15 was pretty high price.
In March, many thought that $30 was a pretty high price.
In April, many thought that $250 was a pretty high price.
Today, many think that $500 is a pretty high price.
Your claim is probably just as valid as someone claiming that Bitcoin to be worth $0.01 a piece.