I'm guessing the vendor would argue its all those parts and the way they are put together that justifies the cost.
I've never heard the beast so I don't know.
My gut though says that simplicity works best with a pre-amplifier. It has the least demanding job of all among the common paerts ie source pre-amp amp and speakers.
Not to say this thing might not sound like the cat's meow all on its own, but a stereo system is a team sport and I view the pre-amp's job more like a lineman, pretty cut and dry, not one of the "talent" positions. So you pay less, though needless to say everyone needs a good one of some sort otherwise the rest could end up a mess no matter how good or talented.
If you are building a 6 digit system, I suppose a case could be made for sinking $40K into a pre-amp. But I would still wonder what else might have done a similarly good job for a lot less. I don't know about otherws, but I tend to have to work under a salary cap with my toys.