It still is significantly more expensive even after the discount. But yes, the skip-a-version possibility helps.
Yes, the price increase is significant. I suppose we have Adobe to thank for that as well. With so many people trying to jump ship after they abandoned the perpetual subscriptions for Lightroom, Phase One probably wanted to set a new/higher baseline pricing for the newcomers (and figured they could overcome the temporary loss of a few faithful users). But for working professionals, it's a manageable increase, for this round ...
It does mean that users will become more critical/vocal when things do not work as expected. I'll also have a few items that need to be improved to keep me satisfied in the field of emerging alternatives.
The initial version 11 functionality additions are quite useful for several types of (especially professional commissioned work) users. But e.g. the restrictions to layered (proprietary) PSD files for some of the output, instead of TIFF, makes little sense to me. To name one issue.
Cheers,
Bart