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That sounds quite reasonable to me. That's about what a freelance proofreader charges to edit a book, if https://thewritelife.com/how-much-to-pay-for-a-book-editor/ is correct, and that's working with a (likely Word) document which isn't poorly scanned from paper.

You’re paying a human to remaster the book word for word and hand transform it into epub html paragraph by paragraph.

How much less would you do it for?

If you pooled the funds with 10 other people who want the book, it would be $90 each. Or imagine pooling it with 100 people.