The price doesn't seem unreasonable for those who want both a case and a keyboard for their iPad. I don't own an iPad though and even if I did, I wouldn't want or need a case or a keyboard.
I own an iPad 4 and Logitech Ultrathin Keyboard Cover. I do not recommend a keyboard cover or case to most people unless they really absolutely need one. I got the Ultrathin because it can be easily detached and left in my iPad envelope carrying case while I use my iPad. This is because I use the iPad without the keyboard over 90% of the time. The only reason to have the keyboard is when I am working on my book so the on-screen keyboard does not take screen real estate (i.e.: I can see more of the text that I typed and scroll less).
Because of this, I find any keyboard that does not easily get out of the way of the iPad being tablet to be useless. This one from Logitech looks like it almost folds well behind the back, but it looks awkward. Also, the price of this case is way too high at $150.
For most people I recommend an iPad with AppleCare+ warranty and a smart cover to prevent screen scratches. If you must get a case, get a thin one that covers the back and edges and is smart-cover compatible. If you must have a keyboard (e.g.: for long-form writing) then the Logitech Ultrathin Keyboard Cover + DodoCase BookBack + Smart Cover actually work well together. You can still fit a Smart Cover under the Ultrathin so you can have the screen protected while leaving the keyboard in a neoprene or leather sleeve.
I highly recommend a neoprene or leather sleeve as a carrying case for the iPad. You can still get the leather ones that Verizon sold with the iPad 1 on Amazon for under $10. They include a pouch for carrying the Verizon MiFi, but that pouch can be used to carry a microfiber cloth and/or a stylus as well.
Finally, do NOT buy Apple's Smart Case. We bought one for my wife's grandpa, and while he was satisfied, the thing did not fit very snugly on the iPad and I found it completely frustrating.