Yeah, $45 for tiny (tiny!) latte is a reality for nerdy fancy HK cafes. That makes McCafe unbeatable for the price - for getting $20 McMuffin etc add only +$5 and get pretty decent Americano/Latte/etc (which, in fact, may be better that at average nerdy fancy cafe).
It's a pity. Back in my homecountry (Belarus) we have fancy nerdy cafe Zerno, which make better coffee than average HK premium cafe, and it costs only $11HK for a cup of "fair trade" coffee. In bloody dictatorship! Why on Earth HK coffee scene is so weak and inflated?