IN Illinois the straight edge and staggered edge shake is 3 times the cost of the lap siding, 7" ttw lap is approx. 145.00 Color PLUS, and the staggered and straight edge shake is around 430.00 per sq COLOR PLUS.
I agree that the Nichiha shake is better in the overall thickness but it is prestained by DucksBack stain that is only semi transparent stain with a 12 year warranty, you would have to source an outside painter like Pro Build, Cedar Siding or the like to flood coat to get a 15 year warranty that is comparable to Hardie, if you wanted a primed product for a solid body stain. Nichiha Shake is hands down a better look, and easier to use, longer lengths less installed pieces.
JH