Yes, prices on GPU went crazy since October.
But water cooled GPU is very convenient - no noise, no throttling. Previously it was about the same costs as to put water block on GPU on your own or to buy Hybrid EVGA (was around 120$ price difference). Now it seems cheaper to buy water block separately. But you have to install it precisely, otherwise with such amount of heating power - local overheating will cause throttling and may be damage anyway.
On other side you will have so much control over temperature with water cooling.
My record so far 9C with 100% utilization on 1080Ti (funny that below 0C nvidia-smi shows temperature error, they never accounted probably that GPU would be cooled below 0C):
