I don't think there is much I can add that Matt didn't already say.
People are always bringing up how "overpriced" his cards are but they have held some of the highest prices in our Hobby since the initial boom in the 1980s. Why is it so shocking that they have continued to sustain these prices and climb in times of economic growth when many collectors have more disposable cash on hand to indulge in their cardboard vices?
The OP is an example that is not winning any beauty pageants but comparative to the going rate for attractive low grade examples, $3800ish isn't crazy. If it goes to a collector that is happy to have it and couldn't afford better what does it matter?
I recently added an SGC 1.5 to my collection. I didn't want to spend north of $10k on the card and can tell from experience, shopping in the Auth, 1 and 1.5 ranks with any modicum of eye appeal does not leave many options.
1300-2000 examples is simply not enough to keep up with demand. Consider many collectors don't have $10k+ to drop on a card and that leaves a small percentage of the pop that is actually attainable.
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