I don't think you got played... its a lot less than an AEM for instance, but more than a cheapo eBay one... The biggest difference between them will be the quality of the filter being used.
Oh, and don't listen to the "dryer hose" folks... if everyone had that mentality with everything, we'd all be driving around in peices of **** with no paint, no ac, no power, nothing that looks good, and living in a beat-down trailer park somewhere in bum-fudge arkansas (no offense to peeps in arkansas, it was just the first state that popped to mind... haha!)...
Quite frankly, i personally like things to look good as well, and if that costs a little bit of extra $$, then so be it... and honestly, i wish more people felt the same way... especially about their daily drivers. I mean, if it was a dedicated race car, that'd be one thing i guess (leaning more towards the "form over function" crowd), but even full-out racecars strive to look good and well engineered, not ghetto-rigged.