The Soma Valhallen Tange 27.5+ mountain bike frame lists for $540 without fork or framebag.

Salsa Fargo Frame + Fork = $900.

So how is $350 for Reynolds frame + fork + frame bag not a good deal?

The next most low price steel frame for a 27.5+ I have found is a closeout on a Surly Instigator (no fork), 4130 chromoly, for $409, and I would have to drive 1400 miles to get it.