Agree with everything you've written.
And, if they fall victim to the sunk cost fallacy, they'll borrow and/or throw in more savings. Especially if they're tied into a longer contract.
Our local has seen 3 sets of wealthy people bankrupted.
Why no one has taken out a class action or got together on this, I don't know, it seems incredibly shadey business practices. I had a friend who took a pub contract to a business advisor before signing it, and was told on no uncertain terms not to agree to anything and to walk away.
Add in small village mentality where newcomers are distrusted and if your face doesn't fit they won't patronise your business, it's mental.