That's the MSRP. Still a fair deal considering the single upgrade license price.
Everyone now is stocking the "family pack" . . . "while supplies last".
Plenty of places have it for a little less: B&H, Sams, Costco, etc.
Hint, hint, hint: there's apparently a way to clean install W7 on a bone empty HDD, off the upgrade media, with NO pre-installed OS OR qualifying product disk needed during the process. Google it for particulars. This raises some very interesting options. Of course, always heed the upgrade EULA terms . . . I only throw this out for the folks with qualifying product looking to avoid a time-consuming double-install upgrade process.