What's scary is the possibility that, given that model's reputation and scarcity, someone might actually pay that price! Not saying it's worth all that, but hey...
To me, the best part of the auction is the Perry Como tape in the slot. Doesn't that just give you a picture of the era?
(The featured artists in RCA's initial 8 track release in 1965 included John Gary, Peter Nero, and Arthur Fiedler. Talk about not knowing your market...)
EDIT: Interestingly enough, there's also a current auction for the same unit less the Dolby (H-R99) starting at $29.95. That's a bit more realistic.