This is incredibly surprising in many ways. Namco Bandai have pretty much laughed in the face of any fans requesting iDOLM@STER localisations, so this is a very surprising turn of events.
I ever thought anything like this would occur, simply because iM@S is so much more than a game series: it has over 100 music albums, a manga series, an anime series, ridiculous amounts of merchandise, radio shows, etc. I always thought Namdai would do it as an all-or-nothing kind of mentality (which means nothing), not some terrible spin-off.
Also, the price.... I mean, sure, some people will buy it (hopefully not many if it's really that much). But... they're insane.