That price is insane. You can buy four 256 GB Sandisk SD cards for $180 by comparison ($45 each) on Amazon right now.
Yeah, the price has to come down. It is in line with what the 400GB cost at launch (250$ I think), but the price of that card has since come down to around 70$, in about the span of a year.
So right now the value proposition for the 1TB card is that you could buy 3 400GB cards have 1,2TB of storage and still pay less than for the single 1TB card.
Heck, even the 512GB they'll be introducing at the same time is 'only' 200$, so you get virtually nothing from moving up to higher storage capacity it gets more expensive per GB instead of cheaper, like it should.
I'm suspecting they don't want people to go for the 1TB just yet and sell the 512GB instead. Maybe yields are still low or something, so they made it a bad value proposition.