That's not a ridiculous price considering what all probably went into it.
If I heard the story earlier correctly they got a full branding package. They have design specs that cover the gamut from letterhead to semi-trucks, from t-shirts to road signs. There was a full blown market research study conducted, there were branding guideline books designed, and there were countless meetings involved. Sure, anyone can reproduce it in minutes....now that the work is done.
This is a lot more involved that doing a logo for Bill's Lawn Care.