I bought the EP yesterday. No regrets. I love DGD and I'm sure the admittedly steep price is due to the fact that it's coming out on Will's on startup label (which I don't think is even an imprint?). Also, bear in mind that DGD/Rise charged only $50 for SIX LPs back when they released the box set a few months ago; quite a bargain.
This is maybe $10 more than you might expect. If you can't justify that to support an independent band that was formed solely as a fun side project, wait for the full length. I'm sure that will be in the normal price range.