(IF) Being priced a bit high has its good and bad points. They are marketing the game also for hardcore simulation enthusiasts, and those of which would really be the primary ones interested to buy the product (or just have the money). Look at LFS's userbase... you have a lot of noobs, and a real select few of diehard fans that are really serious about realism by getting tons of displays, building a cockpit, etc. I imagine that most people that WILL buy this game will be some pretty good drivers as well as ones that want another new game made by some 'legends' of sim developers.
The only downside to a possible hefty price would be of course that it cuts off the amount of sales through multiple people, leaving a large sum of quick-to-buy-and-under-$50-please customers to be hesitant about the purchase. Though I guess they figured out some kind of proportion of Serious Sim-Enthusiasts versus Any Given Simulation Player. Though, that probably isn't why the price is so high... they need to pay the bills, employees, and all that extra stuff. I guess they have a profitable business in the works, money should be flowing in since they have the whole 'for professionals' stance on their game... and big buyers like real racing teams come in handy I bet.
I like old Papyrus simulations, still some of my favorite. But they always lacked something extra visually. A real simulation definitely looks all plain and simple for the scenery, but it definitely needs to look like you are really in the proper location while racing. From the recent pictures it looks slightly better, but nothing spectacular compared to their past sims. It should all be in the physics I guess, which is always a nice focus of theirs.