Oh Sneetches, my name is Sylvester McMonkey McBean,

And what you need is a trip through my Hoodie-Off Machine.

I'm pretty sure you can find a suit for $40 and a hoodie for $200. Put the hoodie on a pedestal as the symbol of "hacker cred" and you'll inevitably see hoodies for far more than even that as designers capitalize on founders with more money than sense.

Also, hoodies are cheaper to clean and easier to pack.

Steve Jobs was noted for his perpetual black turtleneck and blue jeans.

Thing is, the "simple" black turtleneck was the result of commissioning a top Japanese designer to research and develop an optimal outfit (with intent that it actually become the company uniform). Jobs then bought a closetful of them. ...so a prime example of the subject bought something on par with a "hoodie", but paid way more than $20-40.

If I'm gonna look for a hoodie for work attire, it would be a properly embroidered "Jack Frost" one - which ain't going for $40.

Once you make any style standard business attire, prices for "respectable" quality will fast move into good-suit prices.