Why is Wagyu so expensive?

Why is it that Wagyu beef, often hailed as the most premium meat in the world, commands such a staggering price tag? Is it simply because of its luxurious marbling and unparalleled tenderness, or are there deeper factors at play? Do the meticulous breeding practices and strict feeding regimens contribute significantly to its cost? And how does the limited availability of genuine Wagyu, especially the Japanese Kobe variety, factor into its exclusivity and price? Let's delve deeper into the world of Wagyu to uncover the reasons behind its astronomical value.