Cheapest MB is around $42 here in Europe, so $32 in U.S. is quite likely. The $77 model comes with 4 SATA ports and every video output one can think of (VGA, DVI, DP, HDMI): it's pricey for an AM1 board but would make a good HTPC buy.
Baytrail should have been main competition, but in my case it failed from the spec sheet: with prices of $96 and $125, the two Gigabyte - Bay Trail embedded MBs offer only 2 SATA ports and no PCIe slots. Maybe that will change with other models, but for now this lack of features and flexibility is a no go for me. At $125 the quad core Bay Trail ain't cheap either.
The embedded IVB Celerons are indeed nice competition for the Kabini: nice CPU, enough SATA ports, PCIe x16 slot (some of them at least), likely cheaper overall. They lack USB 3.0 though. Because.... differentiation.
Had you even checked the retail price you (perhaps) would have come to a different conclusion.
The Gigabyte board you reference is $75.
http://www.newegg.com/Product/Produc...82E16813128688
The AM1 board is much more feature heavy but the target market probably isn't going to use those features.