The steel is on the very low end for "stainless" with barely enough carbon (.43-.5 %) to make a blade steel and the least Cr for "stainless" (12.5 - 14.5%).
I think you were taken at that price. I'm sorry, and also don't want to offend but 15 bucks would be the max for me.
In the end, you can read on here, s & w are great knives to use when you don't want to damage your more expensive show pieces. I wouldn't use it for any defensive purposes, but it'll make a decent cutting tool.
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