Bad business on the YPs part. I can understand charging what the market will bear, but in this case it was clearly a gouging opportunity.
I've got a few clients that were spending upwards of $30,000 per year for their YP listings. That same $30,000 in an online marketing campaign will generate at least twice as many leads and, over a longer period of time. It really all depends on the clients industry. I can't think of many businesses that don't qualify for an online campaign, can you?