Yeah that confirms our decision to go with ender pearls costing a diamond instead of just 4 iron as can be made with a minium stone. Delaying tesseracts until you can afford to spend 10 diamonds for a pair of them, will balance out the progression we think.
Agreed. 4 iron for an Ender Peal is ridiculously cheap and it doesn't take long at all to get 9 Minimum Shards. Early game, I'm lucky if I can kill an Enderman with Iron Armor and an Iron Sword, and that's if I'm lucky enough to find one, lucky enough for them to stick around long enough to be killed, and lucky they don't kill me before I kill them.
As it is, once I have a quarry up and running, I can make Tesseracts a 64-stack at a time.
So, yeah, 4 iron is way too cheap.