You did not get a pack of eight of those at Walmart at any price. I can just about guarantee that that t-shirt is very high quality. Very high quality clothes, even t-shirts, just feel different. The fit is more comfortable, the textures are better, and they last longer and look better longer when well cared for.
Having said all that, anyone who buys a $120 t-shirt needs a face punch. Luxury products are often all they're cracked up to be. But does that mean they're worth the money? Almost never.