i'm not a hunter, and i'm not a fan of people who take long shots on big game, so this isn't strictly speaking applicable to the OP topic, but i pay for features and while i need a scope that has good optical qualities, i don't obsess about how "clear" scopes are.
the features that make a high dollar scope worth the $ to me are:
first focal plane reticle
a reticle that is quick and easy to use and correct
ergonomic target knobs that track repeatably and are labeled clearly and usable in dark
a generous eye relief and exit pupil
zero stop
a large amount of elevation travel that is accessible in 2 or less turns
detents that are precise, not mushy and not too hard
(some people like locking turrets too, but i only like it on windage)
a wide magnification range that is ergonomic to set
durability
and of course optical features such as resolution, light transmission, minimal distortion, etc
yesterday, i got a 1st rnd hit on a head-sized steel target at about 985 yards, followed by a 1st rnd hit on a 6" diamond at 1080 yards. to make the latter, i had to dial 84 'clicks' of elevation, and hold .7 mil of wind. (using a cheater caliber. it would have probably been 110+ clicks with a 308) i would love to be mistaken, but i don't believe there are any $100 scopes on the market with the level of precision required to track to calculated dope that far out, much less that have most of those features in the list. in fact, the cheapest scopes i know of that come close are $1300 (that one compromises on eyebox and some optical qualities)
all that said, if i were hunting a deer at 200 yards, with a 8"ish (i'm totally guessing as i've never really cared enough to look it up) vital area, would i need or even want most of those features? no. i'd want a lightweight scope with covered turrets, a simple reticle, a decent eyebox and probably fixed power and fixed parallax. and yeah, i'd expect that to be cheap, because it doesn't matter how it tracks as it's not even adjustable. and the glass only needs to be good enough for me to make sure it really is a deer and not the neighbor's dog, and maybe good enough to count the antlers or something.
so then price to me for a hunting scope (again with the caveat that i know nothing about hunting) would come down to the mfg's reputation for not crapping the bed at the worst possible moment, combined with the impact of crapping the bed. i.e. if i missed a deer, i'm not going to get moist about it. but if i paid $100k for an african trip, what's an extra $1000 in piece of mind that my scope isn't going to lay down?