On one hand, the Valve Index launched for $1000 in 2019. Adjusted for inflation, that is $1306.25. And you needed a powerful PC to be able to use it, where this can be used standalone. Only effectively costing an extra $194 for standalone processing is pretty impressive.
On the other hand, it is difficult to justify this price considering cheaper headsets on the market, like a $600 Meta Quest 3. Unless you dislike Facebook that strongly (justified).