(I've only ever experienced kaiseki in ryokans, so my comments are only related to that setting, not having it in a kaiseki restaurant.)
For me, whilst being on the expensive, side a stay in a ryokan which includes a kaiseki dinner is VERY good value.
The variety and quality of food, the fabulous presentation, the luxurious experience of being served in a private space by "your" server, the chance to eat foods that I would never knew existed, and certainly wouldn't know to order in a restaurant, the chance to try local specialities, the fantastic plates, dishes, etc, the chance to eat in a lovely Japanese room, or sitting round an irori....they are all things that either I simply aren't available where I live, or, to the extent that some of these experiences are available (albeit mainly not to the standard that they are in Japan), they are hugely expensive.
If we said that a fairly expensive ryokan would be JPY30,000 (and, of course, pretty good ryokan are available for around half that price, I'm taking an expensive example to highlight the point), then that's around GBP180. However, it includes a kaiseki dinner (which, even if you could get it, would be well over GBP100), a great breakfast (say GBP 15 or 20), onsen bathing (not available here, but if you equate it to a trip to a spa then you're talking anything upwards of GBP30), and a night's accommodation in what is probably a memorable building.
It's a lot more than it costs to stay at a business hotel and go out for kaiten sushi, but I think it represents exceptional value and is worth saving my money for, as a treat.
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