So locals are smarter than travelers?What restaurant outside a major chain hotel is ever not overpriced? So travelers will patronize the place, and the locals will go where they know the value is.
Food is like all businesses, it is priced according to quality and competition. don't sit there and tell me you know of a cheap restaurant that is of better value than a more expensive one, frozen patties, canned hash and tastless frozen fries are cheap, but of low value.
You may not be prepared to pay more than 6 or 7 dollars for lunch, but don't tell me your choice is a better value, it isn't.