I would never pay these prices for a social ride I can do for free!
These events cost more than races. I've never done a Sportive, only Gran Fondos - but on the Continent, they aren't just mass start, they have a racing element as well with podium prizes but cost a lot less than the Sportives here in the UK.
Mass MTB start races in Portugal and Spain attract upwards of 500 cyclists and typically cost around 12-15 euros and included in that you get a T-shirt, gels, bidon's and often a bottle of wine! Sponsors fund the event, including local councils who cover Police etc. The road Gran Fondo's cost a bit more with thousands entering but they are still nothing like the prices I see here.
I look at events like this and just do it myself if I like the look of the route. No drama, no cost, no masses of 'accidents-waiting-to-happen' cyclists.