Now that I think the device in their hands and have assembled, I have to revise my opinion. The Lens Cap is an excellent workmanship, the outer ring is made of a metal ring in which the plastic parts are bolted. The whole thing makes a very sophisticated look and fits just fine into the overall picture of the camera.
Neither the design nor the functionality suffer the Lens Cap. It is rather as if one thinks that Cap would have been all the time already there ...
Wen the price still bothers should look at the competition models a try. The total of inexpensive plastic and have external hinges on the flaps. This has quite coarse and uncouth.
The Olympus variant is elegant and reminiscent of precision instruments, when I look at the sunken screws and the exceptionally good fit all the parts.
Buy! (If available since. Apparently Olympus gives them still homeopathic doses free ...)