There are other much cheaper models. I might not be finding it, but their site doesn't make it immediately apparent what the differences are to justify the huge difference in price: https://www.polaroid.com/en_us/collections/instant-cameras
Worth noting that this is seen as competing with the SX-70, which was previously the “serious” choice for Polaroid shooters. The SX-70 was $1300 in today’s dollars at launch, and fully refurbished ones are several hundred dollars now.
My impression based on reading reactions from people in the target market for this camera (ie serious Polaroid enthusiasts) is that the camera looks great and the price point isn’t crazy.