While people can argue that it's not his fault that the customer is willing to pay sky high prices, it still unethical. This is like telling a white lie, instead of just quoting an absurd price, tell them that you don't really want to do it and that the price it takes for you do it. This forum likes to call people out for being dishonest, yet the people here aren't really honest either.
I remember one mechanic wanting to charge my mom 150/hr to fix a honda.