Most of the competition, (which is to say thermostats with all the same features but butt ugly and made out of plastic with a crappy LCD screen), are about $150.00. So in fact this is priced just like many Apple products, a 50-60%% or so premium over what a middle range alternative would be.
The thing I don't understand about the Nest is the marketing. All the materials and the picture on the box show "70" (degrees) when pretty much every country in the world has been using Celcius forever.
If you are going to sell a product world-wide, to put an obviously weird US-only temperature on the box is a bad choice. Stupid people are going to think it's a meat thermometer because a 70 degree temperature would normally be deadly. Whereas those who understand that it means 70 degrees Fahrenheit are going to be slightly insulted.
It's such a completely unnecessary blunder to make on the box art.