I think that price is outrageous for a little quilt made from cotton. I've seen kits for little quilts made from wool with high prices, but for a kit with cotton, this is outlandish.
At our guild meeting last night, the owner of a new local quilt shop presented a program. She offered membership in this same Kim Diehl BOM program at her shop, one Saturday each month from July-December, and the cost to join the club is $20--total, not per meeting. She said she'll have kits available at the monthly meetings, when we'll get the printout of the instructions, but I'd be surprised to see prices this high. Little quilts take fractions of yards to make, and I don't see how the high price you mentioned can be justified.