Probably more relative to the cost of other Tri/TT bikes out there. The P2C is more aerodynamic than many frames costing 2-3 times as much. Even Cervelo says that the aerodynamic savings for spending $3500 on a P3 frame will only get you 40 seconds or something small like that over a 40K TT. Whether it's in your price range has nothing to do with whether it's a relative value.