Is the Rico popper that good and actually worth the $20+ price tag?

No! A Rapala Popper works just as well but it's nice to have $ 20 lures!

I think they do. Why? I have no idea. Do they really make a difference? I have no idea but, I can tell you from a whole lot of experience on the water with them that I am convinced they do. Time after time they out produce a Pop-R significantly for me. I have had clients throw Pop-R's and I would give them a Rico to use and they would hit them much better. Put them side by side and I could never tell a significant difference but, there is something about them. Yes I know, it might be in my head but, I can let you talk to a lot of other guys whom feel the same. Its only 20 bucks so , try one and you tell me.

IMPO yes they do work better than a pop r or even a zel pop.  They have a difference sound than any popper that I have tried.

I agree that there is something different with the Rico's that get them some more fish.  My favorite $20 popper is the Megabass Pop Max though.

Fished this weekend with a friend.

He threw a RICO the entire time and caught 8 nice bass.

I used a Pop-R and lost one on it; then went to a RICO and caught three keepers.

The RICO was slimmer than the Pop-R and had a nicer "water blow" when it was popped.

So, in my humble opinion, I am going to throw the RICO, then a Chugbug then a Sammy and then a Spook and then a Pop-R or similiar topwater.

But they all work well in the right conditions.