CPU pricing is weird. If you look at the 6th-10th gen Core i7s they are not too far off in price, [1] - for example the 6700K is currently $272 and for ~$30 more you can get the 9700K. The current generation usually command a bit of a premium.

[1] https://www.newegg.com/p/pl?N=100007671%20601351803%20601321...