I've long been interested in one of these, but could never bring myself to spend the original asking price. Not that it wasn't worth it, just had other cameras that fulfilled the purpose. Regarding pricing, as it has already been mentioned, a case can be made for Nikon's $300 bonus on top of the GR's pricing. Made in Japan vs. China, arguably uses more expensive to manufacture components (machined buttons etc). Additional cost of charger and neck strap, as well as engineering resources that were possibly used to a greater extent when compared with the Ricoh team who was starting from an already proven design.
That being said, it's interesting how this camera has received such negative response - especially from posters who have never even handled one, and were mainly aimed towards the asking price. How about the RX1, SD1 and pretty much every Leica released in the digital era?
At $484 with the viewfinder from B&H, considering the original viewfinder retail price, it's like getting the coolpix A for about $100. If the image quality is indeed as good as some reviewers have reported, it might just very well be the modern equivalent of the 28ti (a camera that itself is not free of quirks).