That's about what our shop charges, for an 8 week course that meets PADI, NAUI, and YMCA cert requirements, includes a mandatory swim test, skin diving skills, bail outs, full unconscious diver rescue, no mask buddy breathing, and task loading, problem solving, and stressing drills. It takes longer, but it doesn't cost the shop more. One reason is that a shop with this teaching philosophy attracts and develops instructional staff who are less mercenary. They're part timers who are more interested in sound training than making a buck.
I help out with the classes as an AI, and I get shop credit. Whenever I use it, I always end up throwing a bunch of real money alongside it. One night a week it's nice to get in the water, but you couldn't pay me enough to give up an entire weekend all at once to work a class. Thus, old-school instruction can cost the shop less than the one-weekend quicky.