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Awesome Location or Bulldozer Bait?

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We acknowledge that house hunting is all about location, location, location. But, c'mon, even we are classifying this new listing on 77 Newman Avenue as excessive. Yes, we are aware that the new Barn & Vine minimansion-construction (hello, Million Dollar Listing!) is seriously driving up the price tags of an already expensive Bridgehampton. But, just under $2M for this 5 bedroom, 4.5 bath seems ridiculous. The kitchen has some charm, but the house looks more like the prom date that got stood up. Far from a beauty queen, the décor makes us sad. Maybe it's just the poor lighting in the photos. The village access will undoubtedly speak to buyers, but we're betting that folks in this price range want a house that isn't stuck in the 1970's. The .69 acres are admittedly a real score for a true village location, but this house doesn't need a little love, it needs a demo crew. Please let us know your thoughts. Is this house overpriced or do new developments in BH justify the sticker shock?

True BH Village Location [Corcoran]