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V-r0cK said:

Starting at $219.99US for a 1TB! Almost the same price as the Xbox Series S.

Good thing it's just an (expensive) optional choice or else it'll burn up in flames like the Vita lol

https://www.ign.com/articles/official-xbox-series-x-and-s-1tb-expandable-storage-drive-costs-21999

"You can continue to use your USB 3.1+ external hard drives on Xbox Series X & run Xbox One, 360 and OG Xbox games directly from the external USB HDD. Games optimized for Xbox Series X & Velocity Architecture need to be run from the internal SSD or the Expandable Storage Drive"

Well, "Crazy" expensive is not really what it is :)

SSD with that throughput today (I guess PCIe 4.0 only) is probably in that range... And this is a custom piece of hardware.
While not being cheap, this is not crazy expensive.

Just as a reference (PCIe 4.0 as it is probably the closest in term of performance):

https://www.newegg.ca/p/pl?d=ssd+1tb+pcie+4.0

No, 220$ is not crazy expensive at all...