Well, Eric did go out of his way to say they got rid of stuff like the bead blast finish and carving on the handle which were expensive to manufacture. Of course, he also mentioned the tapered handle and steel lock insert, which add cost. That, and their across-the-board price increase, should leave the Paysan at roughly the same range as the Nirvana. I'd agree with under $500.
They do need to be careful with the prices, though, as used Rassenti customs are falling under $1,000 fairly often these days. At some point they'll be directly competing with his original work.