From my experience, I feel somewhat comfortable calling this a 160 line Chinese rug although as stated before, it could be a Pakistani weave I somewhat doubt it now a bit.
Before going much further, I just want to paint a little clearer of a picture of what Rug Rag uses for terminology. This is somewhat subjective in the industry, but without going into too much detail....
sellers and department stores often put highly inflated prices on tags and call them "retail value." generally speaking Rug Rag figures these to more often than not be closer to a "replacement value" rather than a "retail value" although those in the industry may differ somewhat.
I've been instructed to go by what's called "fair retail market value" which is the price of an item after sales discounts and negotiations are done. A Fair Price for a Retail Location. People play with numbers too much, and it's insulting to reputable sellers.
Another problem with assigning value to some of these newer rugs has a great deal to do with the fluctuating dollar value, labor rates, and costs of materials. I've been out of the business myself sometime now, although I do keep up with things, they do change frequently. Prices also have a lot to do with location. A rug found at ABC new york is more often than not going to sell at a higher average price than a rug in more remote areas.
Bottom line, in my opinion, fair retail market value for a rug like this would be in the vicinity $600-950 in new condition. Of course if the retailer is having some spectacular sale, this could be lower, or it could be higher too. I have seen these on the internet for more than this marked price, so I'm sure there are and have been people who pay significantly more.
As for the quality, it's tough to say whether it's good, average, above average, etc. a lot of this has to do with the wool. The wool doesn't look spectacular like a kurk wool or other, but it doesn't appear to be dead wool. You can't say too much about the feel of the wool from photographs, but it seems like this is a decent quality rug overall.