Eh, it depends. If you have to stick with Xeons and pre-built, most similar workstations (assuming we know the actual model of the Xeon Apple is using) will run around $5,500-6,500. While I agree that this seems absurdly priced, everyone needs to understand it's probably the Xeons that are causing a huge chunk of that expense.
If you're building your own, you can build a MUCH better 18 core build with more ram, more space, more internal upgradeability, and better graphics for around $3,500-4,500. And if you don't mind a few used parts, you can go around $2,500.
This new mac pro is definitely a better value than the previous. I bought a more powerful workstation than the trash-can Mac Pro years ago for $380 total (including upgraded graphics). Now, why people are still paying over $1,000 for 2013 mac pros is absolutely beyond me...but this new mac pro is eh-priced for what it is. Those new Xeons are pricey and not at all worth it, in my opinion.