I know this has been an issue for a while but their premium pricing seems to be more out of whack then what a compititve product would be in order to compete for higher spending customers. I'm now retired so I have the time to take Amtrak on Inter-City routes and long distance trains. However I'm still buying a transportation product and can't afford to pay a 100% or more premium just because I want Amtrak to succeed.
This has been the subject of extremely extensive discussions here. I will give you the response I usually give.
Amtrak does not need you to buy a sleeper accommodation. There are others who will take your place.
Amtrak sleeping cars are not a good value proposition, I do not think anyone here contends that they are. The pricing is not rooted in the value proposition, but rather in supply and demand.
The supply of sleeping accommodations is extremely small and is insufficient to meet even the limited demand for them. This summer, the Southwest Chief has two sleepers and possibly a transdorm, I am not sure since I don't live along the route and do not see the consist, but I am sure of two standard sleepers because of the characteristics of the available inventory on the website. I'll assume a transdorm for purposes of this discussion. That means there are roughly 30 roomettes, 13 in each sleeper plus 4 revenue roomettes for sale in the transdorm, and 10 bedrooms available on each departure That's 210 roomettes and 70 bedrooms in total capacity each week. They are all usually are booked out or close to it by departure in peak travel season.
There are thousands of First Class airline seats between LA and Chicago each week.
Amtrak yield manages fares and would be doing a poor job if their perishable inventory was significantly unsold by departure. An empty room is revenue forever lost. But there are few empty rooms. Based on that result, Amtrak yield managers are not overpricing their product. Whether that mediocre, at best, product is a good value at those prices is a different question. It's not, but that question itself fundamentally moot in light of the supply and demand situation.
It's Economics 101.
I myself will not pay higher buckets, which are the $1200-1400 prices you see. Highest roomette bucket is $1624 on the SW Chief, btw, so the prices could still go up from what you found. Yet I travel sleepers regularly. I do not hold out for lowest bucket, $708 for the SW Chief, but will book in the lower and middle buckets, which would be in the $800-$1000 range, using round numbers, for the SW Chief.
If you wanted to travel in a sleeper on any Amtrak trains this summer, not just the SW Chief, you are booking far too late. Any inventory allocated to lower buckets has long since been sold and remaining inventory is in the higher buckets. Booking too early can also be a mistake. Amtrak used to almost always allocate a room or two at low bucket at inventory release 11 months in advance of departure but they have become significantly more sophisticated and aggressive in their yield management practices in recent years. 4-6 months in advance (closer to 6 for peak season) appears to be something of a sweet spot in my experience. Even then, chances of their allocating any inventory at all to the lowest bucket in peak season is slim to none.
Ride Amtrak because you like to ride trains, not because you want to "support" Amtrak. Fair warning, you will never be getting a "good" deal for your indulgence in sleepers, but you can get especially bad ones if you book late.