Actually it´s a valid point, but in a somewhat different perspective.
I think it is safe to say the "era of Ferrari" is gone; a relatively simple watch with a lower-range price tag simply isn´t the field for a true manufacture to compete successfully.
Sure GP could do pieces in the range of 3K to 5K CHF, but not in the quality of a true manufacture and not in a quantity that allows to really compete with brands of a much higher output. That´s vital, especially in steel; unless you´re doing 1000 pieces or more, casework in steel is not less costly than gold.
When others are thinking in production runs of some thousand to some ten thousand pieces of a given model, at GP making 100 pieces is a large run. That´s pretty much what the Manufacture can do in the way the do.
On the other hand, you don´t see robotized assembly lines at GP.
In this, i think GP is on a good way. Not more pieces or more affordable units, but more interesting watches with new and interesting features. This doesn´t come by cheap; but then, there´s probably no shortage of offerings in the more affordable range.
In this, i think GP is on a right track.
It´s not for everyone; but then, Lange/AP/VC/PP aren´t either