Have you compared all the features on the competition. Does it skimp on SATA 3 or USB 3? Does it use solid state capacitors? There are a lot of cost factors, and one of the noted features of the Z77 platform is that it costs less to produce than Z68, H67 or P67 mobos.
as far as i can see it has the features other boards have. the only difference visible to me is that it only has 2 sata 3 ports instead of 4 which are present on some other boards. this however does justify $30+ price difference, in my opinion