Who exactly is being extorted of they decide they want to spend over a thousand dollars on a ticket to see Taylor Swift? Someone has sold an item at a specific price, and someone else paid it. I’m not a fan of the practice, but if it were like food or shelter I would be a lot more sympathetic. This is a thing nobody needs and it’s not like they’re holding a gun to your head saying “Pay a thousand dollars for a Taylor Swift ticket or I shoot!” Extortion implies you don’t have a choice in the matter, but there is an extremely easy choice here- don’t pay and don’t go. That so many are paying implies that to them, the economic transaction makes sense and that is what they are willing to pay. Do you complain that jewelry sellers are extorting people by selling expensive gold jewelry for more than they bought it for? It’s a scarce luxury good and people are willing to pay what they are paying, and have the option to just not pay that. Does it suck? Yes. But if there are people willing to pay that much for tickets someone is going to find a way to make it happen, regardless of whether it is right or wrong.