I think the price is pretty fair for a neat, boutique thing.
If looking at raw CPU speed is what makes a console fun for you, and creativity doesn't matter at all, this is clearly not your platform. Some of us have different metrics for what makes game platforms fun that aren't just it costs less than a 24 pack of pepsi, 8000 choices of softcore pornography mahjong games, and how many polygons you can throw on a screen while cooking an egg on the graphics card.
The Alibaba consoles are just straight up creativity death - their business model is to bottom feed what tiny value remains out of old games they didn't make. Their long term accomplishment, should society be awful enough to let them solely succeed, will be the death of any ability to make new games or innovate in any way, leaving the entire non-Nintendo industry to just bottom feed compete with each other on slightly cheaper consoles in an eventual race to the bottom, while Nintendo releases the 600th version of Mario Kart, because it's easier and safer for them to copy than to innovate.
Playdate has a real chance to inject some creativity, competition, and openness to the platform world, and there's nothing especially novel about that to anyone that has read the history of computing and knows what games like Spacewar did. These kinds of "novelties" have a way of changing everything in ways nobody can really understand at the time.
CNC milled novelty crank.