Panama Gesha is a specific coffee varietal grown at high elevation in Central America, and the finest lots sell for prices that sound insane. I paid $95 for 100 grams from a small Bay Area roaster once, roughly two dollars per cup, and I am going to defend that purchase.
The reason it is worth it once a year: Gesha does not taste like other coffee. It tastes like jasmine tea, or bergamot, or one of the more perfumey black teas you might have had at a hotel breakfast. There is caffeine in there and it is technically coffee, but if you drank it blind you might not identify it as coffee at all. The comparison is not to good coffee vs bad coffee. The comparison is to a completely different beverage that happens to share ingredients.
You brew it lighter and slower than other coffee. You do not add milk. You drink it in a small cup and pay attention. It is genuinely a special-occasion drink and I treat it that way — birthday, big project shipping, first day of spring. If you want to know why some people care about coffee the way others care about wine, spend $95 on one bag of a top Gesha and drink it slowly for a week. You will not need convincing after that.