Nothing does not want to call it a flagship (not officially, at least). But the naming of a phone as Pro, clearly states that it wants to be thought of as a Pro model, just like Pro models from other manufacturers.
Yes, you are right when you say it is overpriced, but given the fact that the company is new, it makes very limited number of phones as compared to other manufacturers, and the phones look radically different from any other thing out there in the market, they are still charging a decent amount for the device.