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To see it in terms I understand:
16-38mm FF equivalent: Nice.
f5.6-8 FF equivalent: Meh.
Weather sealed: nice.
$1099.99: Silly high price for a lens with this aperture range and this amount of glass (315 grams). But silly high prices seem to be in fashion lately.
Well obviously you should make one and sell it for $250 since the price is excessive you should make a fortune.
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Well, the Olympus 7-14mm f/2.8 is more expensive than that Leica lens.
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I do see silly prices paid for average gear quite often. Prices reflect what the customers are ready to pay not the product value.
A friend of mine bought manual focus voigtlander 20mmf3.5 for the same price he could get Canon 20mmf2.8 or Sigma 20mm f1.4 he is quite happy with it for me that was a pointless waste of money.