I bought my wife a "snakeskin" Fed 5B for Christmas a few years ago. She's never even shot a roll of film with it, but it looks pretty, I guess. I paid roughly $75 shipped from the motherland. I suppose these, with a proper CLA, some form of warranty and the artwork on them really isn't a horrible deal. It's a little steep, but like someone else mentioned, the people buying these probably aren't buying them as users, it's probably an appreciation for art thing.
It's not much different than Urban Outfitters taking a standard Holga and slapping a $60 sticker on it. I remember buying multiple Holgas back 6 or 7 years ago for $20 each from Freestyle Photo.
Where there's a will, there's a market. 🙂
Wish they would sell the standard Fed 2. I've been after one of those for a while...