In my opinion (based on first hand observation in local tack stores) there is a significant difference in the quality of leather between the Passier bridle and a bridle from a maker like Arc De Triomphe, for example.
I was as surprised as you when I took a look at their offerings, given the cost of their items. In the examples that I saw/felt, the leather lacked a smooth/quality finish and the attention to detail just wasn't there. Honestly, I wouldn't spend the money on a Passier bridle when there are others of better quality in the same price range.
"The best and most beautiful things in the world cannot be seen or even touched....they must be felt with the heart." - Helen Keller