The $500+ price is probably because it's a suite that includes that room, parents room, and a living room. Still, pretty pricey!
--- Update ---
BTW, if you're a Florida resident or an Annual Pass holder, the price drops to $377.30 for that same night. FL residents use code FLO and Annual Pass people use code APH. Keep in mind, you do have to provide proof of either one at check in.
Also, Jurassic Park Kids Suite at the Royal Pacific is $293.30 for that night (FLO or APH). If I was booking either one, I'd definitely choose the JP one. Not just for price, but I think it's nicer looking. But that's just me