Why do plumbers charge so much, and do you think its a rip off?

My water heater broke and needed to be replaced. I called several plumbers (4 to be exact), and they wanted to charge me between $900 to $1,300!! So I said hell no, and did it myself for $400 and in 2 hrs (40 gal water heater and all necessary parts). I think 500 to 900 dollars for 2 hours of labor is crazy,... show more My water heater broke and needed to be replaced. I called several plumbers (4 to be exact), and they wanted to charge me between $900 to $1,300!! So I said hell no, and did it myself for $400 and in 2 hrs (40 gal water heater and all necessary parts). I think 500 to 900 dollars for 2 hours of labor is crazy, especially for what is required. I mean that is $250 to $450 per/hr! Not even engineers or doctors make that much. Aren't they charging way too much? I would only have paid them $50per/hr for labor at the most.
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