While I'd personally agree with you wrt a business, in general people want to feel that they are getting their money's worth when they pay for something. When its perceived that you are paying only for paperwork and the price is exorbitant, then its a money grab.
I'm not saying that that is what PADI is doing here because I'll not be taking this course to find out (for reasons mentioned before). But they do have that reputation, and reputations exist because enough people perceive it so.
Similarly, I tell my kids, the only thing you truly own and have influence over in life is your reputation. And you only get one shot at making it what you want. Don't screw it up.
Agreed. PADI does have a reputation of not delivering value for the money you pay.
But I would argue that this is a function of instructors more than the agency. Instructors are the ones in the trenches who turn standards (what is essentially a check-list of things to do) into a quality diving course. PADI *does* -- and I believe correctly -- give instructors a lot of latitude to delver the course in a way that makes sense to them. Some instructors turn that check list into an outstanding diving course. Others turn it into the most unimaginable crap. Both within standards.
Both horrible and outstanding courses still need to pay the same certification fee. If there is some feeling in your local area that PADI is not delivering value for money then I would not look to the agency. I would look to sloppy teaching by local instructors.
R..