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1.33 is not the average sale price.. its a 1ref-1.33ref hat
yep 1.33 is too high for this unwanted hat.
From what I observe in r/tf2trade, tf2tp and tf2outpost, craft hats are traded at 1.33 refined each, no matter what the hat is. Which means even the most mediocre craft hat goes for 1.33 ref. There may be an occasional trade of crate hats at 1.22 ref, but not common at all.
Veniversum is right. All craftable hats are worth 1.33 at minimum, no exceptions.
I suppose it makes sense. After looking around it seems everyone is trying to sell this for 1.33 no less, and I've seen some successful trades.