I'm surprised you found the taxis price outrageous though, obviously more expensive to the subways or buses, we found those taxis extremely reasonably priced compared to a lot of the other Asian countries we visited: Korea, Japan, Singapore (although it was 4am so my memories of that taxis cost are fuzzy) even our taxi driver was telling us there are so many taxis in Hong Kong compared to how many people need them. That and the cost was so worth it at night-time compared to the bus, we took it down and so far it's the only time i've ever been travel sick in my life. It was weird how that peak tram would have two hour lines at night to go to the peak but it would be less than a 10 minute wait during the day time. But then people do the same thing for the cable car in Korea at night even when there are buses pretty nearby despite the fact your packed into the cable car so tight there is almost 0 chance of being able to take a good picture.
No, the taxis in Hong Kong were perfectly reasonable, except for late at night when the Peak Tram queue was super long. We hailed a cab and he asked for a huge premium because he knew that our option was waiting two hours for the tram or trying to figure out the busses. I don't remember the price, but it seemed outrageous at the time. Coming down was a fraction of the cost because we ran on the meter and our destination was an MTR station.
Thanks for the love, everybody!