Nope, I don't think it's priced right. It's a super bargain especially in comparison to HPs like Sein600 and 650. IMO, The Q701 is equivalent to those I just mentioned.
Comparing the Q701 to their flagship HD800 could be unfair but I would say from listening to both, the improvements that the HD800 has over the Q701 are anywhere from 10 to at best 20% but you pay dearly for that improvement. Cases like this indicate/emphasize the diminishing return big time in audio equipment. Worth it or not? that's up to each individual.