Oops, I never answered the question. Its because we are willing to pay for it.
The 1911 is to the gun world what the common cold is to the pharmaceuticals.
Do they have a cure to the common cold? Yes.
Uh... no, actually, they don't. You are either grossly misinformed, or you are making baseless assumptions. The common cold is (50% of the time) caused by a rhinovirus, which mutates constantly. The CDC changes the flu shot (inluenza is a similar disease) every year, because every year the virus mutates a little, and the previous year's vaccines won't work in it (N.B. this is actually evolution at work -- it just works a hell of a lot faster with microorganisms like viruses). The rhinovirus evolves much the same way. I'm not optimistic that we'll ever find a cure, given this situation, but who knows, researchers at the University of Maryland did map the genome for all
known viruses responsible for causing the common cold -- but that was only two years ago, which is
far too recently for them to have effective treatments available to the public yet.
Are there superior guns than the 1911? Yes.
Superior how? And if other guns are demonstrably superior, why do elite units such as LAPD SWAT, Delta Force, FBI HRT, and others, as well as top competitors in IPSC and other competitions
overwhelmingly choose the 1911? The mission requirements dictate the equipment, and these top shooters still find the 1911 meets their needs better than any other handgun. It's true that average shooters can most often use other guns as well or better than a 1911, but there is NO "best pistol" period. "Best" is a relevant term in describing any weapon, and any pistol will only ever be "best" in relation to how it fulfills the specific needs of its given users. Same applies to rifles. A .600 nitro express double might be the best rifle if you are going to hunt elephants, but it would not be the best for shooting groundhogs. A bolt action sniper rifle might be the best rifle for shooting an enemy soldier from 600 yards away, but it would not be the best if you have to go into a building looking for that soldier.
The mission profile of different handguns varies less than that of the long guns I listed above, but it would still be a big mistake that all pistols fulfill all mission requirements equally, and that one could ever be the "best" overall.
If you cure the cold pharm-co's lose money. If people would stop spending ridiculous amounts of money on 1911's gun co's, gun smiths and gun rags would hurt.
Believe it or not, gun writers have minimal influence of what I buy, and I am sure many others can say the same. Nor am I overly inclined to spend money to let a gunsmith monkey with, and possibly screw up a perfectly functional firearm.
Look I like the 1911 as much if not more than most. Heck I own several myself but if it takes 15 to 25 hundred dollars to make this gun a superior fighting handgun then I know of many others that can fit the bill for a whole lot less money.
For
your needs, perhaps. Others have different requirements. And I have seen many a reliable 1911 priced for far, far less than the figures you name. Sure you can spend that much on a 1911. But you don't have to.
While we might not like Glocks, Sigs, S&W's they get the job done as accurately and for less money.
Again, speak for yourself. I like Glocks just fine. Sigs too. I also like S&W revolvers. On the other hand, I have extensive experience with their autoloaders, and haven't seen one yet that I'd pay money to own.