229 USD or 209 EUR is your usual RRP aka random rip-off price. All reputable stores in Germany, just to give you an example, charge about 140 EUR for a ZF II. Okay, that's not exactly 150 USD, given the current exchange rates, it's 150 USD plus the price of a 3-pack AC102.
229 USD is the MAP, not the MSRP/RRP. At a ~150 USD cost, 229 USD is hardly a ripoff, it's just above 30% margin. When you have rent and staff to pay, 30% isn't much. Taking into account conversions with CAD, USD prices are higher however, as if you were to use CAD prices, the MAP for the racquet would be ~185 USD. US retailers probably pay a little more for badminton stuff because the volume is much lower. Any how, saying the MAP prices are a ripoff lacks judgement and perspective imo. Might be more expensive than a SP racquet in China where people work for 3$ / hour, but in places where you can't hire under 15$ an hour and rent costs 5000$+ per month, it's a different story.
I was not speculating on the material. It is stated plainly within 5 seconds of google. Graphite frame with graphite nanotube shaft. That is low end.