A few things to keep in mind about AppleCare and all other extended warranties:
1 - They are very profitable for the sellers. Meaning, that on average the sellers will pay out far less in claims than they collect in premiums. Considered purely on an economic basis, extended warranties are a bad deal. They will be a bad deal until someone decides to sell them at a loss. IOW, always.
2 - When someone quotes some astronomical price tag for a repair, especially one covered by AppleCare, consider that the price quoted is from Apple. This is important for two reasons. First, Apple is incentivized to quote huge repair costs which they "covered" because of your wise purchase of AppleCare. Second, service from Apple is always going to be the most expensive way to have a Mac repaired. Independent computer repair shops charge half or less than Apple does for the same repair.
3 - In the unlikely event that your $1,500 Mac craps out three years after purchase, how much would you logically invest in repair, if it wasn't insured? Would it not have something to do with what the computer was worth at that point, or how much it would cost to replace? Would you normally choose to sink $1,000 into repairing a computer that might not be worth even half that much? AppleCare alters this economic calculation, because in effect, you've paid in advance.
Bottom Line: Insuring against losses that you could easily afford to pay yourself if they occurred is a waste of money. Always has been, always will be.