I would consider the Fit cheap proportionate to the amount of stuff included in the base model.

I took at look at some Hyundai Accents before I test drove the Fit (and bought it). The same price for an Accent got you a car with nothing and it got more expensive than the Fit when you added A/C, power windows/locks, etc... I'm sure the Hyundai dealer in desperation would have dropped the price quite a bit, but still... A $14,400 car (and a Honda at that) with standard ABS and side curtain airbags is ridiculously cheap in the scheme of things.