For Mixed Reality devices, it is the same magnitude as Hololens 2 or Magic Leap 2, the biggest difference being Passthrough AR vs. Optical AR. A more comparable device is the Quest Pro, but the AR experience is probably much higher resolution and with binocular color cameras and depth sensors it hopefully doesn't have distortion.

Yes, it is a lot for a VR device, but for a standalone MR device it is comparable with higher fidelity, so it isn't significantly more expensive than other devices in the same category... arguably it is the best value for the category if the cameras and screens have a wide FOV with high resolution and can accurately reproduce the HDR of an environment.