Can this be worth the price?

[Stretch Cab]

I'm cleaning out my "stuff" in preparation for moving and came across a drill bit with a price tag that makes me wonder. I know I didn't buy this bit as my budget is more on the HF level.
What could this bit be to be worth the $150.00 price tag? I have tried to read the print on the tube but it has faded long ago. Any ideas as to what this bit is or is it just a bit that someone has put a high price tag on.