Sounds like a rationalization right out of “Atlas Shrugged”.
The politicians and groups that support cost-based pricing think people are too stupid to make a value decision without the governments help.
Oh, pray tell why is it any sort of "rationalization".
And then, if you have the time, please let us know how Ayn Rand figures into it.
Sounds like Harvard Business School - “screw the customer for as much as you can, maximize profit, maximize personal year-end bonus.” However, what it also does is to allow your competitor to undercut your price, steal your market, and perhaps put you out of business.