It's my fault. We've been talking about fixing his bike, to which I responded that since he's likely to spend nearly as much as to get a new bike anyway, why not just get a new one. The bike he's on now is his Dad's and quite old; even his Dad said it's not likely to last much longer.
That said, sub-1K is the goal, otherwise it won't happen this year. Don't know how reasonable that is, but he managed before on the other Specialized before being given the better bike; that was somewhere around $500 or $600, IIRC.
Well sub-1K isn't likely to happen for a full bike, so I guess I'm buying parts...