Yup - the price sounds about right for a hand-made tool made in very small numbers and allowing a retailer like B+H to make their profit.
I have seen other similar tools for a similar price.
I paid $65 for a Left-Handed Smoke Shifter at a camping store once

Seriously, that looks like a crimper, no doubt
And from DPA it probably has precision stops to prevent overcrimpage
The cost is in the dimensional tolerance and the low quantity sold, as John stated