Depth is not a big issue for me. Unless it is a wall or special swim through at 120 feet, there is not much of an attraction for me to go deep. I probably prefer a 40-60 foot dive because that's where most of the sea life is....not to mention longer bottom times as well as natural colors above 40 feet.
My operator in Cozumel charges $92 for a 2 tank dive, add the 16% tax, marine park fee, and Nitrox, less 10% cash discount and I'm close to your cost for a 2 tank dive. BUT, that for a small boat with like skilled divers, steel hp120 tanks, Nitrox, long surface interval at a beach club with full facilities, excellent DM's, dive parkas, convenient pickup and drop off to our hotel, and "valet" service for the gear. 90 minute dives are more common than not and I don't think I have had but 1 normal dive that was less than 70 minutes. 1 very fast high current dive was less than an hour, but it was a workout...and lots of fun.
We're going to Belize in April and a Blue Hole trip is around $300 perdiver...but it's an all day trip to a (admittedly underwhelming) bucket list dive site.
Value is what I look for and that will vary from person to person. I could dive in Cozumel for a little over $60 for a two tank dive with a great dive op. The going rate for a aluminum 80's seems to be around $80. I would not consider (2) 40 minute dives on a cattle boat with a short SI a good value.
All that being said, if the boats are continually booked up, and the service is similar to what the competitions are charging.....then the market will obviously bear that rate.
Good luck,
Jay