Considering the likely build quality and features, $99 is a fair price TBH. Especially if it doesn't have the stick drift issue of standard PS5 and Xbox controllers.
I don't think there's any correlation.
If you want a shit controller, pay a cheaper price. Cost of materials even for things like high-quality controllers have gone up, especially if Valve are avoiding things like stick drift which are common with Sony, Microsoft or Nintendo standard controller products.
It has similar functionality to a DualSense Edge or Xbox Elite controller, but comes in cheaper, and it's not terribly more expensive than a DualSense. Some of you don't seem to have any realistic perspective on pricing relative to the quality of things, unfortunately.