I know of plenty of good artists that will do great work for about 75 an hour. Maybe it depends on where you live too, but here in ny I've never heard of anyone paying 250 an hour. And none of my friends have ****ty tattoos.
250 an hour is a ripoff, but on the flip side a good tattoo artist isn't making $7.50 an hour. they live comfortably and make their own hours. not a bad gig if you can get it.