I've been watching it for a few days and I and many people I've talked to believe the pin is inflated. For 1, it could be shilled, there are a few bidders who have no bidding activity except on that pin, low feedback, and bidding patterns of a shill bidder (where they bid every few hours to always stay on top and force other's to outbid them). On top of that, remember, this is the first time the pin came onto eBay in a long time, so the 2-3 people out there who have $1000 to burn are going to give it their all. If another 1 of these popped on eBay right after, I guarantee you the price would be significantly lower, everyone is just bidding on this one though since they have no idea when the next one will come up.
I have talked to a lot of people and the general price for the pin should be around $400-500, which I expected and is fine, but this one will go much higher.