LR,
You're hot, smart and being a little rigid I think.
I see 20 definitions for Sugar Daddy here:
http://www.urbandictionary.com/defin...rm=sugar+daddy
All that matters in a term is what is commonly being communicated by it and this one varies a lot in practice. Anything from May/December relationship to a provider's regular I think.
Actually I suspect the most common meaning is a fairly complex combination of the following things...
1. Baby mainly brings attractiveness and charm to the table (offering little in terms of devotion or financial resources of her own), Daddy mainly brings financial resources (often offered in lieu of the more traditional attractiveness, charm, emotional availability or willingness to commit).
2. Non-committal sex
3. Some ambiguity/less explicitness in terms allowing the illusion of greater legitimacy than straight p4p.
4. More time spent out of bed than traditional p4p.
5. More of a retainer relationship than a transactional/hourly one
6. Some degree of exclusivity/availability
Personally, your extreme wholly exclusive premium priced definition sounds like a terrible deal to me. More expensive than a marriage, you get less out of it and all you get in return is a theoretically easy exit.