I bought used shelving, for a lot less than that price, though I did need to use 2 13mm spanners ( and a 13mm socket to make things faster) to assemble it, but it was less than $50 for a similar amount of shelving. I did not have to buy the bolts though, had plenty of them already. Plenty of places have used shelving, and this is a big way to save money on the shelf storage, as you generally are not too worried about appearance of the shelves, just that they are reasonably clean, free from flaking paint and no major rust.
Dexion style sheet steel shelving is long out of patent protection, so there are multiple clones of the bolt together system that are, to the most part, nearly drop in replacements for the original Dexion system, though many of the newer ones use M6 bolts and nuts instead of M8, but you can often use the 2 in the same rack row with minimal issues.