Yep, great price for a peep made in the USA. When you compare round peep sights to this peep for what it does, that's pretty good.
I spent a few minutes trying to see where my G5 meta peep was made, to no avail. I assume in China. If the oval is indeed better technology, then you can just say you're charging double the price for new "must have" innovation. I highly doubt it cost double to manufacture though, and I'm certainly not paying double just because its made in USA.