I have to say, the cover does give it a nice finished look under the hood and hides the filter. That being said, I find it interesting that they are calling it a CAI (Unless Torcon thinks that putting that cover over a ram intake transforms it into a CAI LOL), when in reality, it goes to where the stock airbox would normally sit - just like SXTH's SRI or Torks Big Gulp - both of which are almost half the price and give the option of being powder coated to your color preference.
The extra price might be for the two ports that they put on to allow you to vent your breather and recirc valve back into the intake - both of which you would then have to plug if you were running an OCC and a BOV.
I wouldn't mind a cover plate like that just to protect the filter element and give the engine compartment a nice finished look. Maybe Tork or SXTH should come up with a cover plate - looks like Torcon is charging $50 US for it. Still would be cheaper to buy instead from SXTH or Tork and save a couple of hundred - enough to pay for a nice sway bar, or a cold side intake pipe, or a muffler delete, or a resonator delete, or ...