Over priced is a matter of perspective. A non-running Puch or Moby at $50 is way over priced too.
Whizzers are in a weird legal limbo in some states. In AZ they actually should be titled and plated as scooters, but every Whizzer I've seen with plates here have "moped" plates and no title.
I've seen a few, like mine, that are "stripped" of their turn signals and fly under the radar disguised as homebuilt motorized bikes, which are totally unregulated in AZ.