I agree, but it's not the $500 some people are claiming it to be. Also it confirmed in a reasonable timeframe.

I have the following hopes for bitcoin: 1) People upgrade to segwit

2) The people spamming the network stop

3) Lightning Network will reduce some previously onchain transactions

4) Schnorr signatures will compress transactions even more

Meh, on that transaction a $12 fee isn't too bad. ~$3,440 transmitted for ~$12 in fees, works out to 0.37% fee. That said, if you have some patience doing a similar transaction through ACH can often be free or significantly cheaper.