It's not a 7/8ths body, it has a 7/8" jack.
It's most likely slightly cheaper than usual (though there are two other black gloss Thinline bodies for just $25 more, with masked red dye edging) because a solid finish means they don't have to pick out really nice-looking wood, or they just know that solid finish + rear rout isn't going to sell quickly at full price.
Though it does also make you wonder just why exactly some pieces are so much more expensive/cheaper than others, when in terms of basic spec they seem the same as the average body.