Never a need for the home cook. Professional chefs pay for quality much like we do in tech. Ergonomics, edge retention, sharpness, and dozens of other factors can influence that $300 knife and whether its useful for a professional who chops food 8-10hrs a day, 5 days a week.
For the home cook, who chops maybe for 1/10th that weekly, not much reason beyond placebo.
Mind you, going mid-range with something like a Victorinox can be a good bet for home cooking. $50-ish chef's knife that holds its edge well enough that a honing steel will keep it sharp for a couple of months of once-or-twice-a-day use.
Nothing more annoying than squishing your tomatoes as you try to cut (except having to take time out to sharpen your knives all the time).
For the home cook, who chops maybe for 1/10th that weekly, not much reason beyond placebo.