Jesus. For that price I can get a solid 35mm film SLR in good condition. As an avid photographer (both film and digital, moreso film) I've never understood the point behind Holgas, especially given how much they cost.
However, I encourage you to try the Holga or a Diana before you knock it. Try some modifications and see what comes out. I've been crazy-glueing miniature glass dollhouse props into my Holga. Except the first roll, I forgot it would be upside down so I have all these shots of people with wine bottles on the ceiling.
The point behind Holgas is the same point behind slot machines. The fact that there's so little control over what you're doing makes every shot that turns out feel like a gift from God. I couldn't imagine using my Holga as my only camera, but it's a fun diversion. Actually, I can't imagine using any of my cameras as my only camera.
Also, you can get a basic holga for around $30, the more expensive stuff on the lomography.com site is for the lunatic fringe of the lunatic fringe.
