For much of history lobsters were considered "sea bugs" and reserved for the poorest of the poor to eat, much as one might treat a cockroach. The idea that they are valuable is a rather recent invention.

Here's some further reading on this and other interesting lobster lore, by the MIT Sea Grant Program:

https://seagrant.mit.edu/wp-content/uploads/2021/06/Lobster_...

Where are these cheap lobster?

That place was casual but not cheap; ~$30 for a lobster roll. It’s out of business now.

Oh. Seems like the owner got jail time for tax fraud. Could have explained the price point ...

(Cheap, as in cheap compared to lobsters in Europe).