Yeah that’s one cheap board
For what I'd be getting it seems like a really good deal, 2.4ghz wireless and Bluetooth. Sounds good too (imo). It also has two pre-lubed linear switch options but they both seem very similar. It's a plastic case but I don't have a huge issue with that, and at this price point a metal case is just impossible.
Perhaps the cheapness of switches shows how much we are being scammed on keycaps. Maybe keycaps are just expensive because of the group by system and most keycaps being produced in relatively small batches.