I agree: CF is overpriced, because most CF trainers suck. They are often inexperienced, uneducated, and have little idea how to program effectively. What they have going for them is mostly enthusiasm and sometimes, a basic understanding of Paleo.
If you find a good gym with excellent trainers, like Kelly Starrett's gym in SF, you should be willing to pay double what they charge, and you will easily get your money's worth.
If you think that $150/mo. is too much to pay for shitty coaching, you are spot-on. If you think that $150/month is too much to pay for excellent coaching, you simply aren't serious about training.
(To be honest, most people who pay $150/month for CF aren't that serious about their training, but they can either afford it or they enjoy the camaraderie. And don't underestimate the camaraderie. It's awesome, and vitally important for long-term fitness success for most people.)
In CF's defense: all of the criticism above apply to non-CF trainers and gyms, too, except most globogym memberships are cheaper than $150/month. There are many extremely crappy non-CF personal trainers who charge $60+ per HOUR.
The fitness industry as a whole is plagued by a large number of overpriced, undereducated trainers who fail to deliver on their promises. This is further compounded by the fact that the general public has no clue how to effectively train themselves, so they have a hard time figuring out who the true experts are. The situation is very similar to the problems that face nutrition counseling.
Find experienced coaches who know what they're doing, and pay whatever they charge. You will save so much on long-term medical bills and injury treatment that it will be worth it. (I guess the catch-22 is that most people don't know how to figure out if the coaches are any good!)
(FWIW, I was briefly a trainer at a CF gym.)