As someone who has paid $400 for a knife (CRK / Benchmade Anthem) and who has bought a buckload of Ti-Edc-Gadgets I have no problem with the price.
However, I don't see any appeal. There is nothing in the design that is new... well, maybe the modularity (lets see how that goes). LIke the MKM Malga 6 it seems nothing but another SAK with more expensive materials.
That said, I really hope this is not as bland as it looks.