I paid more than that to get a SOG Scuba/Demo made in Seki, Japan (yeah, also AUS 8), leather handle, just because I saw it on a shop and handled it. If given chance to travel back in time, I'd buy it again. But it's just because I love the looks and the feeling, and it's one of those "real" SOG's, made in Seki, Japan.
I think they're having another sort of that blade again, with plastic handles, for around the same price and made in Taiwan. After taking a look at it I felt like they're ruining a good design!

I have another SOG products and I feel they are overpriced for the quality. But there are also good products that you can buy on ebay for the "right" and acceptable price. I got a Visionary I that I love for around 65€, which is the same price you pay (here in Europe) for folders of that quality and size from Spyderco or Benchmade.
But yeah, SOG prices are just crazy!