With the caveat that I'm a relative neophyte, I respectfully disagree. I certainly don't think or have any reason to believe the low end modern bikes are anywhere near the quality of older, high end bikes. I've ridden older bikes with Shimano 600 that was much cleaner, crisper and smoother shifting than new Ultegra. And if you're going with steel, high end old steel is certainly better than low end new steel. Finally, I'm not sure I'd pay that much for a Satellite Comp as a few months ago a dealer was offering me a Jamis Quest, which is better steel and better components, for $1,300 (and I think I could have got him down to $1,200, but I ended up buying an 81 Raleigh Team Pro instead .... I note that to disclose my bias :-). If you're going the Jamis route, see what price they'll give you on a Quest. My impression from the well below list prices I was offered is that the dealer mark up on a Jamis must be pretty high.
The foregoing is a general old v. new response. I lack the expertise to have any opinion on what the Bianchi in question is worth.