There's a glut of these devices on the market right now, someone must have accidentally added a zero to the order (there was a similar rationale for the Android phones included in EW a while back). Amazon used to have the Overdrive Pro for $100-250, and it was new a couple years ago.

Recently[1], there have been promotions for 500MB/mo free data, if you buy the hotspot for $50. One catch is they tack on $1/mo if you don't use it at all. Apparently the hardware is horrible, with crazy overheating problems; best usage practice is just to remove the battery and run from USB. You can get them attached to all sorts of carriers, but this one is Sprint; I figured it was worth a try.

[1] http://www.freedompop.com -- beware affiliate links