Unfortunately, thats not outragous for a nice long-ish (below the shoulders) shabbos sheitel. But that is why for weekdays I went with a $500 band fall. I keep my sheitels well (no blow-driers!) and they last me a long time. (like 10 years for my last shabbos sheitel!)
There are definitely less costly, very nice, options out there but I buy them so rarely that for me it was worth that price.