They've glutted the market to date. I think it's a ploy to flush all the current stock.
Well, unless I go used (more likely), there's no way I'll be purchasing a new Gibson. They just priced me out of that market by dropping sub $1000 instruments. A 30% price increase? In this economy? Right. They better start making Epiphone's with real mahogany instead of Philippine Mahogany (though there might be one or 2 LP's that are made with real mahogany) to fill the gap.
The Epi LP Tribute looks a lot more attractive suddenly.
The price hike must be manna to PRS' ears - absolutely nothing about the described changes justifies a 29% price rise.
My Tokai's are looking more and more of a bargain every day...