GoDaddy does not own any of the domains. GoDaddy is what is known as a Domain Registrar. ICANN are the ones that are in charge of all domains worldwide. When you go and put in a domain name, search, and purchase it from any registrar, all they are doing is providing your information and payment to ICANN and any other appropriate authorities (think a Country Code TLD). Once that's done, the company you registered it with then gives you a domain interface to control it.
As far as the price on that particular domain, someone owns it and that's the price they want for it if you'd like to purchase it. Neither GoDaddy nor anyone else controls that aspect of domain pricing. It's totally up to the seller and the buyer to determine if the price is fair or not.
I hope that helps explain the process a bit.
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