Harbinger 1 had a print run of 80,000, issue 0 blue 130,000. But the pink 0 had a run of only 6000 or so. The print run for some early Valiant stuff may have been smaller than other books released by Marvel, DC or Image back then but 80,000 is 80,000. Eternal Warrior 1 had 150,000 printed vs 5000 for the gold logo variant. Today the variant game helps keep the industry a float and has spawned a boom in speculation but there's still a plethora of great content out there which I suspect is good for the industry. Back then was there anything that could have keep the market going? I can't remember anything.
High end comics cost a lot of money so personally I'm not putting the no-honey-money into expensive variant of little substance. If I want the cover for Gamora 2 I'll just take the Marvel Diamond Previews book for that month, bag and board it and file it away, after all it's got a ton of other great art in it too. Then I can spend my money or worthwhile mess like all the Low comics I'm missing or completing my SCUD run.