You are correct. It is for pepper despite the shape. It is also has an adjustable grind using the black knob at the top. As for price, mine was a gift from a kid who cooks. A lot. He got one because of the speed and output that this one has. The difference between this one and the barrel model( I have a Peugeot barrel model bought sometime last century and it still works fine) is like the difference between doing a repair with an actual shop tool or using a tool that fits in your seat bag. Both get the job done but one is way faster and more precise.