No people are not crazy LATELY... They've been crazy for a long time!!! Spend an afternoon riding with a news crew or a first responder, we can all tell you stories from way back about how crazy people are. Remind me sometime to tell you the story of when I hit a deer with my news truck back sometime in the late 90's.
Anyway. Yes it's true that once upon a time the Foxbody Mustang was considered to be a dime a dozen. And why not, there were a million (or so it seemed) of them out there. Herds of them, right for the picking! They ran for what, like 14 years give or take. Probably the longest anyone has ever run any body style. Or at least any modern body style. Perhaps the Model T may have had a longer run.
Because they were so plentiful - and fast people would snatch them up to carve them up into race/track cars. In fact, I almost did just that to my Indian Outlaw; had it not been for the accident that caused it to sit on Humphry's lot for 6 years. As it sat, I began to notice for myself examples of Foxbody Mustangs in the wild becoming an endangered species. As I was driving it to the second guy (who actually fixed it BTW) I was thinking about the extensive surgery my pony was about to undergo, it got me to thinking about how hard it would be to replace the Outlaw if something were to go wrong. It was then I decided it was probably a better idea to keep my pony stock, or at least stock as possible to all outward appearances anyway.
That said, with the wild Fox Mustangs disappearing to captivity on some race track somewhere, and with a shortage in both the new and used car market created by Covid, it is not surprising to me to hear that people are getting out the long rubber gloves when they ask for the price on even a wounded wild Mustang. Plus you wanted a GT rag top, which is probably the most rare of the species.
If it were me, I think I wouldn't get in a hurry to get this car unless you or someone you're getting it for is sick or something... Wait for this Covid thing to blow over and when auto makers get back up to full capacity again, and people start buying new cars, then the used market will start to catch up. When that happens, perhaps the prices will start to come back down a little bit. With the Fox Mustang on the endangered species list however, they probably won't be bargain basement cars ever again, but at least the price gouging may subside a bit.
Perhaps you could find a track car that wasn't to badly cut up and free it from captivity and return it to the wild? You know, something that ran in a stock class that only had a simple roll bar instead of a full on roll cage, something that didn't get all tubed out, you know...