I certainly wouldn't pay $150 for that, and was asking myself the same ?. It's not going to appreciably increase the value of my home, so an argument that it's home improvement doesn't hold water for me. It doesn't seem to have that much hardware, which would help me understand the price point even if I still wouldn't pay for it.
It simply doesn't solve a problem I have, and at $150, I'm not likely to give it a shot to see if locking my doors manually is really that much of an inconvenience (I doubt it is). I might pay $50, but even then that's a stretch because, as I said, it doesn't solve a problem I've got.
Since no one is forcing you to buy it, I would simply suggest not buying it and going on with your life.
Perhaps that sounds harsh, but there are plenty of products out there that cost a lot of money (much more than $150) which won't bring you any additional value.
The new Lockitron will certainly bring value to a lot of people, including renters.
Things should never be priced based on actual expense unless your margins are infinitely slim.