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There are reasons, of course in the rare tournaments where Black Lotus is legal, it is an unmatched trump card, allowing a player to skip ahead to cast their most powerful spells on the first turn of a match

Card Set(s) -THE AZURE SEAS SEVEN- [OP14-EB04] CARD VIEW OP14-031 | SR | CHARACTER Nami Attribute Special Block icon 4 Effect [Blocker] [On Play] Rest up to 2 of your opponent's Characters with a cost of 8 or less

Voice is fine in the former but a bit of a luxury card and somewhat off theme in the latter

And that's before Counterspell mana comes online

First of all, the unique blue backing of the card, and also the date is misprinted as 1995 instead of the correct 1997 date

Its high price is attributed to its rarity, quality preservation, and the fact that its one of only four PSA graded examples of this card, with this particular one boasting a perfect PSA 10 rating