The facial value is not related to the measure of expensive or not. Whatever the facial value of the Bitcoin (facial value is the value of 1 BTC. like the value of a 1USD bill) the way to know if a currency is expensive or not is the buying capacity you got. In financial, we use the Bigmac (comparison of the bigmac price in different country) to know if a country is more or less expensive.
As example, the euro value is 1 €, the PHP value is 60php = 1 €. The philippines money is "very cheap" 1PHp = 0.01666€. So the PHP is 60 time times cheaper than euro..... but
1 bottle of wine in France cost 2€ (120PHP). The same bottle in the Philippines cost 1000 PHP (16.66€).
Bitcoin will be expensive if the price of the goods (bottle, car, house, coat,... ) paid in btc is all the time the same whatever the value of the btc in Euro or USD. for example your bottle of wine cost 0.1 (2.5€ to 3€) btc in 2015.... and today the same bottle cost 0.1btc (570€)