$1240 is just the preorder price! It's actually more like $1310 (105,000 yen) !
However, do check out Sasaki-san's blog post; he thinks that it rivals a full-on JH13 with a cable upgrade, no less (if you believe in cables). I'd say that the price isn't too over-inflated if you keep those capabilities in mind. Plus, it has good resale value because of the universal shell.
It really is a universal fit monitor; it just looks like a custom and is fully based on the drivers from FitEar's flagship, except with that titanium sound bore, and slight re-tuning.