Maybe it's twice as much, but imo it's not much in general. Especially for what you get instead with going something like Thermalright dual tower. But if you want cooler as cheap as possible, search AliExpress - I'm pretty sure you will find something even cheaper than Gelid and maybe even RGB
Btw mind that RGB differs with how it looks (amount of diodes and their style) and cheap RGB stuff tend to look crap, literally like cheap RGB stuff. Not even counting likelihood of awful durability, so showing artifacts or dying after like few months. Cheap brands having decently looking RGB are Arctic and Endorfy. It's not quality, but have at least long warranties. I don't know how about Thermalright.
It can still loose, especially on lower noise levels. Even somebody in this thread mentioned kinda dead end of big, single tower coolers like Macho series and it was a good point. Thick and big, so harder to ventilate radiator forcing to use bigger, harder to provide static pressure, fan. I suppose that this kind of coolers were here to fill the gap between tiny ones and big dual towers, but to not be able to seriously compete with them like compact (and cheap) dual towers do today.
And btw what about your promised eLoop testing? Is it better than stock Thermalright fan?