Yes, of course you can make a case that they're a bit overpriced but you've got to compare apples and apples. Bottom line is regardless of who made it, Casio or a modder, titanium is a lot lighter and looks a lot better than the steel equivalents in fairness. Then when it's much easier to actually wear, that makes it worth paying for IMHO. Your mod has a nice shade but matching that up with a screen or module I like would be a bit difficult.
Red-infused means having some red yes, like the dw-5000 or the King you posted.