I can understand why it didn't go for higher.
For me, it doesn't have hardly any description, which says it's totally untested, and probably doesn't even turn on. The keyboard looks pretty good (at least it's not missing keys), but these old keyboards often have keys that don't register anymore, or they double or triple. It's in fairly dirty condition, which isn't usually a good thing with almost-40-year-old electronics. It's got some case modifications (like the joystick plug on the side), and the pictures look pretty dim.
Also, the other comments by the other posters on this forum make sense in terms of the replaced parts.
I'll never understand why people list items like this, which they must know will likely fetch a good price, but then only take awful cell-phone shots with it, and don't bother to post any description (probably because they're posting it with their cell phone). Furthermore, it looks like this lister never even cleaned it at all. I think if they at least bought a bottle of spray cleaner and a few paper towels and wiped the dirt off, they would have gotten at least $200 more.
Just my 2 cents.