I don't think it's too cheap, particularly, but I know what you are saying. Maybe there needs to be a PM version, so a high roller can spend 25K on a gold concept. I think it's that some people just don't expect CW to be competing with the Zenith's and upwards of this world, at all.
Personally, I think the CW is more attractive that the Zenith Defy and the Oris pictured above. I don't know other similar skeletonised watches.
However, at a stroke CW is trying to go from being the best value Swiss diver under £1000 to being one of the best hand finished watches, period, at any price, and it's a big leap. It's the same leap that Montblanc struggle with, and Hublot struggle with for different reasons. Suggesting that a CW watch is on a par with any luxury watch atelier at any price level ruffles a lot of feathers.