Yeah, I hear ya. But it isn't as though Subaru has done any better given the way the STi looks right now... Hell, what it will look like just a few months from now...
Both Subaru & Mitsubishi have lost their way when it comes to creating homologation specials, but it's because of their fading relevance in WRC. After Makinen left Mitsubishi, their performance plummeted, and their replacement cars suffered poorly. Subaru is still hanging around -- with few major wins -- because of Solberg's talent and consistency. Both companies have been devasted by the new hatchbacks from Peugeot, Citroen, and Ford. Small hatches are the future for WRC, and this is why Subaru is heading that way with the STI. That's no excuse for Subaru's design, though.

Mitsubishi has taken the non-motorsport route (apparently) and decided to improve and mature their existing Evo heritage. Thus the increase in size, weight, features, etc., and the resulting price increase. They're trying to move
upmarket, while Subaru has gone yuckmarket.
Have I mentioned how much I hate the new Impreza?
YSSMAN
Yes, I do realize that we didn't start getting them in the US until the VIII showed up, but still... I prefer 'stripper' models anyway...
I view the older (pre-X) models are effective and functional, rather that spartan, but I guess the two are related. After all, they
were based on economy car designs from 15 years ago. And I agree that the older models had a good deal more "specialness" to them, but I've always been relutcant to change and new tech. Too much luddite/caveman blood, I guess.
One more thing about outrageous price inflations:
Leftlane News had a pretty interesting article on the suspected price of the next E90-based M3, which took into account the pricing that had been announced in Europe. With those equations applied to the American prices of the 335i coupe, the suspected price of the M3 is supposedly going to climb to $60,000 USD.
I wouldn't say that the M3 pricing is getting out of control. Adjusting for US inflation, a 1997 M3 still would cost around $52,000. Given that the E90 is significantly more advanced relative to it's siblings (compare the E36 M3 to the E36 328i, and the E90 M3 to the 330i/335ci), the price increase seems reasonable to me. There's always that carbon-fiber roof to keep you company.