The hype is just that: pure hype.
I bought a 1oz pot of La Mer last year, and it didn't make much of a difference at all. A total waste of $150, seeing as the same results are obtained using far less expensive alternatives. I don't mind coughing up north of $100 is the product is worth the price - like Sisley or Chantecaille - but La Mer was one bad buy.
That's just my opinion, though. There are countless number of people who swear by it for every one person who doesn't find it terribly effective.