Not sure I understand where you're coming from by saying Sugarbush prices themselves on the upper end. Sure they are way above the Peaks pass and a lot of places outside of VT, but within VT they are more middle of the pack. Sugarbush's price this year is 1/3 less than Stowe's early rate last year. I expect they will be pretty close to K as well unless K does a price drop when they announce their new prices (last year they were a couple bucks cheaper than K). Do you consider K on the upper end as well?
In Southern VT Okemo is higher than Sugarbush (which is ridiculous and will be interesting to see how they are impacted by the Peaks pass). Everyone else in southern VT is cheaper than SB, but I think the terrain at SB alone justifies a slightly higher price.
Since Win took over in 2001, Sugarbush's pass prices were much higher than their northern competition and a bit ahead of Killington. I'm putting them up against MRG, Bolton, Stowe, Smuggs, Jay, etc. All the resorts north of Route 4. Those resorts, except Stowe, are priced lower than Sugarbush for an equivalent pass. Have been for a while. When we discussed this on SkiMRV or here the reasoning for the pricepoint was that Sugarbush wanted to offer a "quality product" and also sought to match themselves up with their ideal competitor, which is Stowe. They used that to charge a premium for full passes (and still do) when compared to other Northern Resorts.
Of course Sugarbush has offered the Mount Ellen only passes as a way to have a lower priced pass for locals. The last year I was there I got a Mount Ellen Plus Pass (LP access a certain number of days, preseason and postseason at LP) for like $649 or so. That's about the same, if not lower, than a lot of places in NVT.