I don't think so, I mean, in any way compared to other titles released during its time. I know when I bought it originally as a teen I got it from Toys R Us for probably around 30 bucks or so, and this was a year or so after its original release date I think, and they had a few copies still of the game. But I agree, whether you end up spending 25-40 bucks, I'd say its worth it, if you want a hard but fair and fun shooter anyway. Its easily a better port then the Genesis and Snes releases. If you buy it, don't buy it going in with the mentality expecting you will beat it, because few actually do, and that will ruin the experience for you. Then again, if you have already played the rom or something, ignore everything I just said, you already know this lol.
Also, if you want to try and win via bid, here is another one currently at a lower price bid wise:
http://www.ebay.com/itm/Raiden-TurboGrafx-16-1991-/300866461658?pt=Video_Games_Games&hash=item460d09dfda