Apparently so. I have really lucked out in getting that Mac, it's been quite a workhorse. It's also the first one to come with Thunderbolt.
I bought a Seagate GoFlex 2.5-in Thunderbolt-to-SATA external drive adaptor years ago for AU$134. It's been discontinued for a couple of years now and I spotted one on Amazon yesterday for US$274. Supply & demand, I guess.

// @skematica