Actually I believe the rates. People like Chris Ling and Andrew Choi are quoting in excess of 10k on their websites, so it seems very plausible that hourly rates can break the 1k mark. Hoping to do so as well by end of year.
The way they do it is not to break it down into hourly rates, but charge a package price.
For example, a photographer can have an undisclosed rate of $300 an hour, but still able to charge as high as $10k for a whole wedding. This also ensures that you sell your albums as well because it's part of the 'package'.
For myself, I find it so much easier to charge a lot higher now with packages or total solutions, vs breaking it down into rates. And the best part is, I don't bang my head on the wall when i could have made twice as much if someone with a 12-hour job tries to book you on the day when you've already been booked for a 6-hour job.
Just my $0.02