That's still very reasonable, most people that go there are western tourist, they are used to spend more on a cup of coffee than on that entrance fee, also at least one person has to be paied to sit there all day and collect the entrance fee.
Seals can be seen at Walfish Bay too, but the sheer ammount of that colony is impressive and the little ones are just so cute, if they just would smell better ;).
The NWR needs to make money to pay rangers and other people protecting the wild live, it's one of Namibias biggest attractions and if these rangers see that they can get a 100,-- N$ or more for showing some americans around for 2 hours, who wants to work as a ranger and not as a tourist guide?
I read with horror one american advising his fellow country men, on a different forum, to remember that 10,-- N$ is only 1,-- US$ and to tipp accordingly to american standarts, so give the guide 100,-- N$ instead of 10,-- N$, not understanding what that will do in the long run.
When it comes to private lodges Namibia is not cheap, the NWR lodges are reasonable, still not cheap.