https://www.reddit.com/r/singularity/comments/1izpb8t/gpt45_...
I'm guessing that this model was finished pre-training at least a year ago (it's been 2 years since GPT 4.0 was released) and they just didn't see the hoped-for performance gains to think it warranted releasing at the time, and so put all their effort into the Q-star/strawberry = eventual O1 reasoning effort instead.
It seems that OpenAI's reasoning model lead isn't perhaps what they thought it was, and the recent slew of strong non-reasoning models (Gemini 2.0 Flash, Grok 3, Sonnet 3.7) made them feel the need to release something themselves for appearances sake, so they dusted off this model, perhaps did a bit of post-training on it for EQ, and here we are.
The price is a bit of a mystery - perhaps just a reflection of an older model without all the latest efficiency tricks to make it cheaper. Maybe it's dense rather than MoE - who knows.