Well, the raw price of parts to build a simple delay circuit might be ~$3, but the hardware to build it into an actual pedal is another ~$10--nobody sells one for less then ~$20.

The real question is: do they have a real-time DSP implementing the AI FX? If not, it's worthless: if you want lag, just use any of the ten million VSTs with your computer; if it is real time, then it's basically a natural language interface on top of an FPGA/DSP -- in which case it could be useful, if it's got reliable presets and pro-grade durability.

I still think most people would take an IR-2, though