At my Walgreens, SM is $9.99 across the board, including shampoos, conditioners, hair milks and stylers. CVS is generally more expensive on everything, so I only shop there for BOGOs and special deals.
In addition to the other positive aspects you mentioned (minority owned; sustainable fair trade ingredients), the company is also a community-oriented firm in an area that desperately needs more of them. I used to live about 10 miles from their facility in Amityville, and it's a wonderful example of local entrepreneurship.
The prices seem generally reasonable to me, especially since 1) some of the other lines that are popular here are MUCH more expensive ($19 for 12 ounces of CJ DF??), especially when you take shipping into account, and 2) generous discounts for SM are quite common, so if you're patient you can always get a good deal. This would also explain why the regular prices are a bit high - it helps offset the revenue loss from major promotions.
I stocked up on the Yucca and Baobab when CVS did their bogo 2 weeks ago. At $5.50 per item, both my conscience and my wallet are happy!