If they had plenty of bicycles they were scrapping out instead of having to buy spoked, precision ball bearing wheels and had a pile of red oak lumber laying around. And all the other bits and parts needed plus putting them together with dowel and screws. Plus 3 huge bobbins that have 3 ratios ... maybe, just maybe it would be a rip off.
As it is, I think the Fidelis is priced very good for the materials and knowledge they have in it.
(no, I don't know these folks, nor do I have one of their wheels ... I just think $195 for this wheel is a great price)