When one converts the price I paid for my bike ($A650) to USD (either then or now), the result is well under $500. Yeah, I got a MTB, but I got some slicks and SPD pedals for it. I now cover well inexcess of 15,000km per annum on it, with plenty of hills thrown in for fun. Oh yeah, I've also 'dropped' quite a few people on roadbikes as well.
