It always helps to look at the .com that sold for that much and see what they are doing with it and why it sold for what it did. If you look at the .com, you will see that it is for a very specific project devoted to women in farming. It is being used as a unique brand for an organization, not a product. Who else would value even the .com at that much outside of this women's group? Who else would place any value in that same term in .co?
I don't know if I am explaining it very well, but it is obvious to most of us that have been around a while, that there isn't any inherent value in this one outside of the .com and only to the one group that really had a use for it. And yes, they overpaid for it IMHO - so luck.