The value of gold will go up with time eventually, once people realise how hard it is to restock their money.
But still, majority of people asking 1m gold for a masterwork item is a ripoff.
1 million gold is what you earn in 185 hours of playing leeching (naked, no repairs, having average x2 most of the time)
Since the above, within sanity is impossible, you will take around 370 hours to farm 1 million gold while playing (repairs, having average x2 most of the time)
Summing up, a person that actually plays the game will be able to retire 5 times (5 times from lvl 1 to 31) before getting 1 million gold.