Yes it does.
This is a small privately owned business that make these from scratch. Have you seen how they are made? A person literally sit down with the 3D-printed parts and vires it all together, carefully assembling each piece, sanding things down with files where neccessary, spending hours making it, and that's not even including the time it takes to print the pieces...
...unlike the "competition" that have factories that churn out these generic kepads that look like mini-keyboards by the houndreds and thousands, thus being able to keep the cost down.
Why competition in quotation marks? Because there simply is no competition to Azeron. I've now tried a few other keypads and hav also tried the Azeron Compact (flat handrest) and Aceron Cyborg (curved handrest and griptape) and simply cannot imagine going back to one of these small keyboards with D-pads.
Is it expensive? Yes, very much so. Is it worth it? For me it is, but apparently not for you. And ranting about it on the companys forums probably won't lower the price or give you a discount.