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Nah, 1.5 is more accurate. Its not a very desired hat. Current price is ok. I doubt it could get 2. Its not paintable, low visability effect and mid tier hat.
That puts it on the level of smoking. Searing/vivid is nearly impossible to find(which doesn't help the PC process) since other effects like stormy and orbiting fire have over 20 of each effect floating around. Both plasmas have only 8....
Orb fire is priced higher than this but lower than vivid; Vivid is priced at 1.7-2.1, this would put it at vivid's level where it should be.