This has been the standard *absurd* price going on nearly 20 years.
$10 cheaper that Marco, though.
Sometimes you can get them around $10-20 used, but I have not seen many lately unless I did some hunting.
If you have connections in the ceramic bearings industry, you can get a whole boxful of 1 1/16" balls for probably the same price.
I have not checked in a very long time. If you are really creative you can still get other colors by special order (through a machine shop) just like the original sample games that used blue in TZ, before most were removed at the factory during testing. A number of very old owners of TZ have them in their games. I have lighter color blue one in the coin tray inside my machine, but as it was tested it was too damn hard to see the ball in the game, and I removed it.
Keep in mind, if you have a USED Powerball just use some Mother's mag polish, Flitz, or other proper metal cleaner and it will polish up like new on a buffing wheel in less than 10 minutes, unless it is has been severely damaged, and this is rare.
You do not need a new ball, and if cared for properly are fairly indestructible inside a pinball machine.
Buying a new one is just being lazy on money people do not need to spend.
My preference is Mothers or Flitz, as I have used both many times to keep my PBs shiny white, instead of dull grey.