I don't see it really as profit maximising, just allocating it first to the people who want it the most. Like they are willing to pay scalpers.

You can get it at the lower price, you just have to wait. The same happens with loads of digital devices. On release day the price is higher.

If it helps you can separate it and have the first a 'ticket' in line to buy the product for the regular price. You just reserve your spot with the auction. The queue price just drops over time.