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I have one (in a box too). If you have the spare income, yes.

Mine came with a 17" ADC LCD (also in box). Paid AUD$414
 
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If I really wanted one - I'd pay it. I've had a Cube before, so it's not all that interesting to me these days. But a machine that I desired that was new-in-box? Sure.
 
They are going for at most $150 on ebay. There is one with an old cinema display for $175. http://cgi.ebay.com/Apple-Powermac-G4-Cube-450MHz-768MB-AP-Cinema-Display-/110588036123?pt=Apple_Desktops&hash=item19bf8f841b

Yes $400 is way too much. You could get a dual G5 for $400. And, they aren't that cool anyway.

Man I loved my cube when I had it. I'm half tempted to head down to this place and buy this as they are local.

I wouldn't pay 400 though. Buy a cheap one and there are tons of upgrades.
 
Probably worth it for $400 if i's BRAND NEW in a SEALED box.

Yeah, maybe in 15 years if they wanted to save it to sell it later as a collectors item. But as old as it is, buying it for more in a sealed box so you can use it @ +250% the going rate of a used one is dumb.
 
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