This is very common with these new TLD's. At least they didn't give it to you for a year then jack up the price. I had jacki.party as a fun domain for my wife that she didn't end up using, but after a year the price went from like $29/yr to $2,495/yr. because they decided it was "premium." There was nothing my registrar could do because it was the domain registry who decided that, so I just let it lapse.
Why is a very specific spelling (note the lack of "e") of a not terribly common name so expensive? No clue, but I'm guessing the same forces are at work (i.e., $$$).
What registry was this? That's not supposed to be possible -- registries are only supposed to be able to designate domains as "premium" if they aren't registered yet.
The problem is that it only takes a few hits at $2500/yr to make it worth it to screw a bunch of people out of an already overpriced domain.
So if you serve 15,000 people with .party domains at $29/yr each, you only need 175 people to pay $2,495 and you've already made more money.
I don't mind paying more for a domain, I might even pay a measurable amount of money every month for the right one, but trying to insist that jacki.party is worth $210/mo is bananas.
This is the bit that really gets me. $2,495 for a domain I can understand. If somebody is willing to pay that, more power to them. But once they've bought that domain, pricing should be at the registrars listed rates. It's unconscionable to charge a premium price for renewal, and even more so to jack up the price after it's already been purchased.
Why is a very specific spelling (note the lack of "e") of a not terribly common name so expensive? No clue, but I'm guessing the same forces are at work (i.e., $$$).