ChipFlip
$119.89 buys you roughly four times the internal volume. The Ghost S1 in Ash runs $330.00 used, the ASUS ROG Hyperion GR701 $449.89. One is a sandwich-layout Mini-ITX case with a cult following, the other is a full tower with room for everything.
The Ghost S1 holds value for a reason
Louqe built it in limited runs with a modular "top hat" system that lets you extend height only as much as your cooling needs. It's a genuine piece of design, and used prices reflect that far more than they reflect raw capability.
Building in one is difficult. Cable routing is tight, component compatibility is narrow, and a full-size GPU needs checking against the specification twice. People who love it accept that; people who just want a small PC often regret it.
The Hyperion is a build experience, not a puzzle
Four 140mm fans included, huge radiator support, a GPU support bar, generous cable channels, and enough room that nothing fights anything. ASUS priced it as a premium product and it feels like one.
It is also enormous. This is not a case you put on a desk.
What the money is really buying
With the Ghost S1 you're buying scarcity and a footprint. With the Hyperion you're buying included fans, easy assembly, and cooling headroom. Neither is better value in the abstract, because they answer different questions.
Worth noting for anyone flipping: the Ghost S1 has held its price unusually well for a case, and discontinued small-form-factor cases generally do. The Hyperion, like most large cases, depreciates normally.
Bottom line
If the machine has to be small, the Ghost S1 is worth the money and the build difficulty, and it will hold value if you sell it on. For any build where size isn't a hard constraint, the Hyperion is $120 more for a dramatically easier build with four fans in the box, and that's the better purchase.