Yea, it does seem off. I don't think it was intended as a cash grab (even if that were their goal, I think a Machiavellian analysis would predict and steer clear of the sort of PR disaster this is) but I see how it can look that way.
I think it was kind of a plinko-board-of-doom situation:
1) Community members really want to see this on steam (this is true, at least iirc, that they had a lot of people asking them to get it on steam quickly)
2) But we can't massively undercut the price the kickstarter backers paid for alpha, and we don't actually want people jumping in without realizing this is alpha, so we have to price it at $90.
3) And we can't back it out now because that's going to annoy Valve and in general be even more of a disaster.
2 & 3 I would agree with. They couldn't "fix it" at those points. They needed to back up to 1 before the steam availability and said "sorry guys, we know you want it on steam, but this just ain't gonna work".
But 20/20 hindsight and all that.