Relative to what you can buy from other more reputable brands for a similar price point, it's actually not great. Nib usually needs work due to poor QC, they creak, and they're just generally a lacking experience. I'm also not endorsing spending a grand on a mass-produced pen, but there's a sensible middle ground of not buying junk nor overpaying for something that doesn't enhance your writing experience. Equally, price isn't a reliable indicator of quality.
Yes, the Jinhao's of the fountain pen market make pretty decent pens, but that's not a fair comparison. That's like saying a Timex and a Rolex both tell time just as well, so why does Rolex exist?
So I can see how this is a way of making a moat for themselves, it's just also a terrible way of doing so.