4k for a 4K display... that makes total sense  ;D
I assume the real peak brightness won't exceed 400 nits since it's certified VESA DisplayHDR 400 True Black.

Give it another 5 or maybe 10 years until the market will be inundated with micro LED, OLEDs, mini LEDs, etc and the prices will calm down.
Until then, HDR will look good on paper.

This is not really a consumer product. The panel for this monitor isn't actually produced by LG but by JOLED, very different from the panels in LG's OLED TV line, this is much much better suited to professional use like video and photo professionals so the price point makes sense in that context.

If you're really interested in the differences and explanation I would recommend the breakdown from HDTVTest on YouTube about this monitor.

I've been hunting for some nice OLED 4k monitors and am amazed they're not more readily available.

I have a Gigabyte Aero laptop which has a gorgeous 15" 4k OLED HDR screen. It looks sublime. The monitors mentioned in the article cost more than my entire laptop. It's nuts!

Having just bought a pair of 27" 4k monitors for my desktop, they're nice IPS screens, but the blacks of course aren't that good. But it seems there just isn't anything out there in the 27-30" size that is OLED.

How does this price sense? This is more expensive than the original (and worlds first) OLED Dell monitor that released like what, 10 years ago?
The cost factor also doesn't add up when when considering how they cut these sheets of glass and their yields. I get color accurate work and hardware is super expensive (well past these prices) but these prices just seem unreasonably high. 

Its for content creators. 60hz is to low for gaming and price does not make sense for that category. Would love to see a oled gaming screen with better specs

The price makes no sense at all, I reckon the very top end price they could get away woth woukd be1500

This pricing doesn't make sense. There are so many people that used LG OLED tv for a monitor and that cost like a 1000$ for 48"-55" and now a 27"-32" monitor will cell for more than 3000$. It looks like there just trying to capitalize on the lack of OLED panels in the monitor sector.

It is expensive, but self calibrating, color accurate HDR LCD monitors with minimal local backlight bleeding for color critical video colorists, can be upwards of $30,000.  Perhaps this will be a bridge to lower such cost.