It is ridiculous, but the parts for this motor aren't worth the cash when you can buy a predator from harbor freight for $100 or less. If you're wanting an engine with less hp, harbor freight has a smaller 97cc motor as well. If you order new rings, you might as well order a new head gasket and a hone. You'd need to hone the cylinder for the new rings to seat properly.
It could be a stuck valve? That may be an easy fix, but if it's bent, you'll need to order new. Again, the new motor is worth it (in my opinion).