Reproduction lenses are often used by LF camera users because they are inexpensive, because their relatively small max apertures make them pretty compact and lightweight for the focal length, and because they often have very large image circles, which allows one to use all the movement his or her camera can provide. They are usually optimized for photographing 1:1 or greater magnification flat work, in which lack of distortion and color accuracy are the most important characteristics of a lens. But they are certainly more than passable at making other pictures, especially once you consider their prices.
I'm really not sure about the price of this particular lens. My gut tells me it sounds high, but I have no specific knowledge of the market for this lens. It is nice that it is mounted in a shutter. But who knows if it has an accurate aperture scale of not?