In my opinion, you are correct, when you wrote "a little high". Yes, I think the mechanic was "a little high".
150 vs. 500 (or 800!) That's more than just a little profit.
I suppose if you have a pristine car, that might appear at the Concours someday, you can justify spending the extra money on genuine MB seals (better save the receipt as proof); but most of us don't have an extra 350 or more to spare on getting what may or may not be a superior seal.
It's not like MB has the integrity it used to - I can see them stooping down and using the same manufacturing plant that APA uses.