As said previously, their waterproof/breath ability numbers are pretty high, so you're definitely paying for that. They're also boasting some new material that they came up with...so you're paying for that R&D.
That is steep $ for just a shell, but it looks pretty stacked in terms of tech. Not sure the BOA system was a necessity (how often do you tighten those things during a day)?
But if it keeps you dry and breathes well that's great. Hopefully it isn't too cold where you ride because you're gonna have to pick up some under layers.