Entrek knives are hand-ground in the USA, so they are naturally going to be more expensive than mass-produced knives or knives made in China.
Is the price fair, I guess that's a matter of opinion, but I imagine that running a knife business in the US, with all the taxes, permits, employee wages, and all other business costs can make it an expensive enterprise.
I bought an Entrek Cobra (below) quite a few years ago, back before they had jimping, and back when they were $135. retail. I carried that knife at work (shipping dock) daily for a few years and used it regularly for a wide variety of cutting tasks, as well as prying open wooden packing crates, and I never had any complaints about the knife.
And although I've never needed to contact Mr. Ennis regarding any problem with my knife, from what I've heard he is a nice guy and provides top-notch customer service. That in itself is worth a few extra bucks in my opinion.