1- it’s not nor would it ever be $70. In reality we all judge whisky with price point in mind in spite of the fact it’s not a particularly good indicator of anything other than how expensive it isIt's not good value at $200
If it was $70 it'd be a top seller.
It's grossly overpriced because it's a huge distillery and their "best" offering. It's like paying $200 for a brand name tshirt, not worth the price but it's still a nice shirt.
2- personally (and it’s all subjective) if it was $70 and wasn’t Johnnie Walker I doubt it would be anywhere near a top seller list.
People that don’t drink or know a lot about whisky buy it (it’s actually already a top seller at $200) because of brand recognition, I know that before I knew much about whisky I wanted a bottle of blue label and most people are the same.
Even as Johnnie Walker at $70 there are miles better alternatives at or around that price point (the naked grouse, dimple, a few teeling varieties).
Essentially it sells well at $200 because people like brands they know and Johnnie markets blue label as premium. Those in the know wouldn’t spend $200 on it and rate much much cheaper whiskies much much better.