It's not nice (or wise) to arrogantly piss off the mob.
(Not referring to the godfather and minions)

"it was his product and was more than within his right to jack up the price as he saw fit."
Yes. I didn't follow the story, but I never understood it. Why didn't the original company increase the price instead of selling to someone who would? There's some supply curve, and the higher price would encourage development of alternatives. Maybe the original patent holders were "dumping" to prevent competition. I did not follow the story and do not know. I see nothing wrong, though, which changing prices. My wife and I are always nervous to raise our price b/c of competitors.