I agree. This is a relatively simple statue, with a VERY basic set of paint apps. Compare this to something like Poison Ivy with the intricacy involved in the multiplicity of hard edge transitions. Here apart from half of the face (a male face even), the piece is almost monochromatic. Paint wise, they should be able to bang these out quick. And while it's tall, it's not very complex. The Allied Charge Captain America looks to be much more complex piece overall than this does. Same for the Batman PF with it's fabric costume.
If it's more than $400, they are tacking on a 'fan premium'. Even the shipping box/dimensions should be considerably smaller than the Batman and Superman PFs.
Bro, price is always dictated first by "fan premium." Though paint, cloth, materials may factor into cost, the only thing they care about is, how much is fanboy gonna pay for him...$500 even though we should make it $400...done!