It's all relative. Yes, it's more bike than you "need." But you probably have more car than you need. If cash is tight, a bike for half that money will do you fine. But although it's a nice bike, it isn't crazy nice or way more than you should have. There's nothing wrong with having nice stuff. If you ride it a lot, the cost/mile makes it seem cheap. And if you enjoy the bike, you're likely to ride it more.