I have a few Rapha items and find them brilliant .
I rate them higher than Sugoi RSE , which I am forever having the seams fall apart , the zips are of a poor quality.
I am more than happy to keep purchasing their products , esp the light weight jersey for summer down here. For me as long as the quality in fabric and workmanship is there so will be my money
I wonder if the Chinese connection will drop the prices ??
On your last point, I very much doubt it. Or at least I'd be surprised if a business like Rapha charitably gave up margin.
They do though have more competition than they had a couple of years ago, albeit few if any that have invested so much effort in marketing, but that might impact pricing. It's been a rapidly growing market though with fairly limited competition. If the growth in the market slows and competitors continue to improve that will change things.
China /made in the UK is interesting, but only really relevant to their UK market. If anything I sense where something is produced is a growing concern among consumers but not on quality grounds - rather on the grounds of generating employment in the home country.