I'm surprised people will spend that much money on semen on a bull nobody has really seen calves out of. Although their real objective may not be to sell semen initially but to just create a buzz. In all honesty, they really haven't marketed a dud yet at those prices. I suspect they know something on him.
Folks want a good TH, PHA free bull, they are throwing one out there for consideration.
Again, I don't like to judge bulls off pictures, but he does take a good one without a ton of hair.
Also, some people that really do own a good bull want to control the market on who has calves so they can get more for the calves. A very good but small Charolais breeder down here does the same thing. He has some darned good bulls, but your going to have to spend a grand or better with him to get semen - he doesn't sell them a few at a time. On a current bull you've got to spend $2500 for 100 straws. He won't release smaller amounts.
If I owned a really good one, I'd probably want more than average also.