Well, at only $10 more than a normal controller I don't think it's too bad of a price. That's if it's wireless. I think it is but I can't find any confirmation. It comes with the USB cable but it says detachable so I think it's for charging. It's clearly aimed at long-time Xbox fans as a collector sort of item.
It does have a few changes, I'd think the OLED is what drove up the price. I don't know about those shoulder buttons. Most importantly they look kind of awkwardly placed and are pretty tiny, but they also don't really mesh with the design of the time period well in my opinion.
"The Duke is designed to be a perfect recreation of the original in size, shape, materials and feel, except for four things: the OLED screen, the USB cable, the lack of memory card slots, and the addition of two tiny shoulder buttons above the triggers so it can play Xbox One, Xbox 360 and PC-based XInput games.
The original Xbox One controller "jewel" now has an OLED screen underneath that plays the Xbox startup animation whenever you press it.
It's a feature Blackley wanted to be in the Xbox controller from the beginning, and one he says he still had to push through today: "I built a prototype myself, because I knew if I said we should put a screen behind the jewel nobody would ever go for it," he tells me."