Honestly no, you are pairing a non-overclock board with a locked cpu, meaning you do not care for overclocking to begin with. In that case this is a good range of mobo to get. Not going entry lvl always has it`s advantages. So no I do not think you are over paying for the motherboard.
After further inspection that is a very nice board actually. With the 2 M.2 sata ports for very fast SSD expansion and the USB-C at the back you won`t be looking for anything more. The Aura RGB header for nice RGB LED lighting, while not needed, it`s nice to have and it can sync with all your other RGB enabled devices.
The cpu your getting is very nice, why not get a nice board to accommodate it as well. If your budget allows it just do it. Many people may not agree with me but going a bit bigger has never hurt anyone. Just as long as you plan to use at least some of the capabilities that your getting with the purchase.