Overpriced?... yeap! Functional? maybe?... a real "gadget hounds" gadget for sure?... oh yeah. Mine came with the bike and has never had condensation in it. Begs the question if you can seal it up with clear silicone if you are careful or take it apart and seal it.
Do we NEED this gadget? NOPE! Oil temps have never been over 200 degrees that I have observed? No biggie there... especially with synthetics!
Also, there are tons of aftermarket oil senders with very coool mini gauges that could be easily adapted for under $100 in my opinion. I use them on hotrods alot! They are generally plug and play.