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Sumo-
It’s a pretty new in-house automatic column wheel / vertical clutch chronograph movement (introduced a few years ago). These things are expensive to design and develop.
But Seiko pricing generally, sure. This doesn’t really feel out of line to me though. As much as I would love them to still make an affordable Speed-Timer series.
Regal
SRQ051.
https://www.seikoboutique.co.uk/product/seiko-prospex-speedtimer-sunrise-blue-1973-mechanical-chronograph-srq051j1/
£2320 RRP.