Top of the range, late model European recreational aircraft, good hangar, good insurance, good instructor (paid a fair rate), well maintained airfield with cross strip close to major population centre, aircraft well maintained by good L2/LAME (paid a fair rate), good school facilities, available 7 days a week. Maybe not a rip off.
Pay the same rate for an old Jabiru at a country airport with one strip, volunteer instructor/L2, tin shed classroom, and yes, a rip off.
It may not suit all, but to just say it's a blatant rip off, and all that implies, is a bit harsh.
(And no I don't own a flying school)