Sure, you're at the Bellagio, and you expect to pay more. But you're also in Vegas, where you have plenty of options. So when you're confronted with a list of $20 house cocktails, you might chuckle, then order one, than realize that it's a decently made drink but in no way worth the 50% upcharge vs. other places.
The people-watching is above-average, but you can do that for free outside the bar. And it's worth noting that our server, Mischelee, was on point and friendly. But given the prices, there's really no reason to visit this place twice.