$499 was the price point that the Mac mini was intended to sell at. Steve Jobs said so when he introduced it. It was likely meant, in part, for lower-income people who couldn't afford any other Mac to be able to afford. They could, as Jobs said, "BYODKM" ("Bring your own display, keyboard, and mouse") from their old Windows PC and use it with the Mac mini.
Tim Cook doesn't give a damn about lower income people, so of course he raised the prices on the Mac mini.
Tim Cook doesn't give a damn about lower income people, so of course he raised the prices on the Mac mini.