The pricing has been copied 1:1 from that of the iPhone 7. Whether in USD, CAD, GBP or EUR: exact same figures.
It's easy to make an excellent phone to retail for $700.
It's much less easy to make a good phone to retail for $300.
This means that a lot of people, probably the majority, have to make-do with sub-par, or second-previous-generation from eBay, or order something from the Chinese market.
Hence the cynicism when Google unveiled yet another $700 phone. It's like another 200 mph supercar from Bugatti, pretty to see and technically fantastic but irrelevant to the market as a whole. Next time Google, how about taking-on a challenge?
Perhaps the next iteration of Pixel will be cheaper as they ramp up on hardware expertise and reign in on cost.
But everyone in the thread is saying Google didn't really manufacture it and it's just a rebranded HTC device