Considering the technology that is in the Carbon Matrix, and how the thing feels at the shot- I don't think it's overpriced at all. This is not like anything ever done before-nothing like the old "carbon" bows from HCA filled with structural foam, or the equally craptacular model from PSE. Its totally new (and NOT cheap) technology for the archery industry. May not be worth the $ to everyone, but definitely not overpriced.
It IS pretty ugly- but I thought in person it looked much better than in the pics I've seen- the camo model in particular. After shooting it, I can get over the looks.
As for the original question- there are a number of companies who charge premium prices for not so premium materials and design.