Yes its ABSOLUTELY NUTS that people are paying those prices for Cloud mining.
That right. The Cloud mining is 4-10 times over priced. So that is only for the people who do not know how to mine.
It's impossible to know if something is overpriced. Nobody knows the hashrate of the network for the next days and months and nobody knows the price of the next days and months and years.
You can know it is over priced as for the same cost, with your own mining rigs, your hash rate is 5 to 10 times higher.