I am with you - while this might seem excessive there are enough people that have the cash and the threat model to go with it.
From what I could find the 2009 Protection version (then called high security) was more around 400k-450k€. A standard model 7 runs from ~115k up to ~145k€.
Yes, I must say that I love BMW's approach. Everyone else just takes a frame and hangs off of it all the protection — just a massive increase in redundant weight and decrease in performance.
Far better to take BMW's approach, upgrade the materials so that the protection is structural; each component serves both purposes.
From what I could find the 2009 Protection version (then called high security) was more around 400k-450k€. A standard model 7 runs from ~115k up to ~145k€.