The price of a individual suit is 610,000; 610,080 if you include a auto rifle. Its a fairly pricy light suit
I can accept that this suit lacks a niche, though it is meant to fulfil the same sort of role as the Kishi, which itself lacks a specific niche: though to contrast the Kishi emphasises protection, while the T1M tries to maximise mobility. It also provides options for a unit staying low rather than risking revealing itself by jumping high.
In short its meant to fulfil a niche of 'trooper' which is so thoroughly generic I know its basic answer. But if you look at it, it can fulfil anti infantry rolls, it can get anywhere any other humanoid trooper can just as fast, its inexpensive to field BV wise, it can perform jobs only a standard trooper can with its armoured gloves (like pick things up), unlike a quad. The point of the armour is more flexibility with provided options through movement, rather than raw firepower. Its also a impressive tech demo to have a suit that can run fast as it can jump, also jump without its jumpjets. In terms of grand battlefield strategy the T1M may not outshine its competition but it does everything above average.
This is not to present a classic answer of a jack of all trades is a master of none, but rather it can do every task reasonably well in one suit. Its got the best protection for a light, it can move above average on the ground and in the air, for a light BA, it can negate infantry at range and can still swarm, leg attack, is mechanised and has anti personal weapons (heavy anti personal at that): and can get itself into trouble just as fast as it can get itself out. It also is logistically uncomplicated. In fact to lean into its basic trooper status I sort of like the idea it looks like the trooper from Section 8, with the jettison capable weapon (MG) to show how it 'holds' its MG in its hand after a fashion. Still that is largely thematic.