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Banned forever.....or not
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Yikes! It may be a rip-off, but Excel aren't to blame - I just looked at the local Shimano website (not USA) and it's that much wholesale here...

If you plan on replacing them I suggest you keep them for when you sell the bike. My experience is that replacing the name plates tends to result in a crash soon after! For some reason the brake hoods are much cheaper.
 

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Overequipped, underlegged
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oh come on guys its not THAT overpriced. Sure its a rippoff, but its right in line with what all previous shimano replacement badges have always cost. right round 20 bucks.
I was expecting something ridiculous like 60 or 70 dollars.
 
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