Actually, no, it's not. That's the giant knock against Boss on this board- you can get higher quality suits for the same price. Hugo boss are fused suits with a fashiony fit- for that fit, which isn't as unique as they claim these days, you're paying a significant markup for a fused suit. $550 isn't too bad for one though, but at $800 with the quality of a $200 suit it's really an issue.
But hey, if it fits, enjoy it as long as it lasts. Don't take it in for cleaning too often, and it'll last longer. And yes, that's really quite okay to do with suits and wool in general.
@ Viral: You ask who would want their clothes to last forever anyway, but then remark that you don't wear clothes from HS anymore because they disintegrated. Would you wear them if they didn't disintegrate? And in terms of suits, which don't float in and out of style, what if your $2000 suit lasted for 20 years rather than your $500 suit lasting 3, and looked better every single time you wore it (which, all other things being equal, it would)? Is it worth it then?
Your logic seems to be that "there is no reason to want clothes to last forever because clothes do not last forever". Which is rather worthless as an argument.
And some clothes do last nearly forever, if cared for. Sturdy wools can last for decades or more. Prince Charles wears tweed jackets that used to belong to his uncle, not to mention stuff of his own that's 40+ years old (and not just the infamous shoes). On a per year basis, he's paying less for a suit then you are.
However, in this case the poster has purchased a suit with a very narrow fit and very narrow lapels. This suit WILL NOT still be in style nor wearable even 5 years from now. I know it's hard to imagine now - but any suit that complies with 'the current' look will be out of style soon enough. The apparel industry will see to it, I promise you. Already the last runway shows were pretty full of VERY wide and flowing trousers. After the pendulum has swung as far as it can go into tight fits there is no other direction it can possible move to next other than loose. And given the fact that a multi billion dollar industry exists primarily on the desire for change you can bet your life that change is a comin'!
In a few years we will all be looking at the current looks with disdain.
Thus, the suit the OP purchased is probably not such a bad idea if he paid a reasonable price for it - as by the time it wears out and the fusing starts to break down it will be out of style anyway.
The ONLY style that is worth investing in for the long haul is a 2 button with a moderate lapel and good, but not tight fit. It may not be what's 'in' right now - but it is always appropriate. (Ok - maybe a classic 6/4 double breasted would qualify as well.) When purchasing these sorts of classics in classic fabrics one might make a point for it lasting 20 years. Although even at that it's a rare man whose measurements don't change in 20 years. (I do think, however, there is still a case for investing in high quality clothing - because a great suit in a great fabric is still discernable from a cheaper one more often than not.) And there also is no doubt that a high quality construction will look better in a 5 year old suit than a lower quality one.
To the OP I say wear it and enjoy for what it is - today's fashion today - you'll be ready to throw it out when the time comes anyway.