TLDR: Respawn should allow people to individually acquire the Legendary Items for 1800 Apex Coins, and the Epic Items for 1000 Apex Coins. Acquiring the Bloodhound Heirloom is fine as is and appropriately priced.
1800 Apex Coins is the price of Legendary items in the regular cycling store and the Legendary Hunt event. Epic items were 1000 Apex Coins in the Legendary Hunt event. The Iron Crown Collection event has 24 items. 12 Epic items and 12 Legendary items. If you were to buy them all at the aforementioned prices it would equal 33600 Apex Coins.
However, in this event they are far cheaper than I stated earlier. They are only 700 Apex Coins each. It is only 16800 Apex Coins for every item within packs in the Iron Crown Collection event. The caveat is that they are randomly acquired. However, one most also remember that they are guaranteed Epic (1000 AC) or Legendary (1800 AC) items every pack. Both of which out-value the cost of purchasing the items through event packs.
For the price of one Legendary item you have a 50% chance at two Legendary items with these event packs. Not to mention that you can earn two event packs for free. Those two free packs each have a potential value of 1800 Apex Coins each. Or 3600 Apex Coins together. Even if you acquire two Epic items you acquired 2000 Apex Coins worth of free items.
Wraiths heirloom item is only acquirable through Apex Packs. Of which you could have earned around 150 of via leveling up, two battle passes, Twitch packs, event challenges, etc. But the heirloom item is only a guaranteed drop after having opened 500 Apex Packs.
To guarantee that you will acquire Wraiths heirloom you would need to purchase around 350 Apex Packs, but only if you acquired all of the free previous Apex Packs. That equates to 35000 Apex Coins. In those 350 Apex Packs you would be guaranteed to acquire 12 Legendary items (Rounded up). Which is the exact number of Legendary items in the Iron Crown Collection event. Bloodhound's Heirloom Preview Set is 3500 Apex Coins on its own, but requires you to purchase all of the items from the Iron Crown Collection event first to unlock the ability to purchase it. Added together this equates to 20300 Apex Coins.
Theoretically, Wraiths heirloom is 35000 Apex Coins. Bloodhounds heirloom is 47% cheaper than Wraiths. However, we must not forget that there is a slim chance that you can acquire Wraiths heirloom far earlier than 500 Apex Packs. Bloodhounds heirloom will be placed into the regular Apex Pack pool of items after the Iron Crown Collection event. Although we do not know how many Apex Packs it will take to open until it becomes a guaranteed drop. Most likely after another 500 Apex Packs. Which equals 50000 Apex Coins.
If you want to acquire one item from the Iron Crown Collection event you have a 1/24 chance to do so. Now if you subtract the two free packs you can acquire it becomes 1/22 of a chance or 4%. Wraith's Heirloom drop rate is rumored to be less than 1%. But one must remember that Wraiths heirloom drop rate is fixed whilst the Iron Crown Collection event drop chance will ever increase with each pack opened.
To conclude this, The Bloodhound Heirloom is appropriately priced. However, if you are not attempting to purchase all of the items in the Iron Crown Collection event, the odds of acquiring the single item you want are slim. Do not become angered, as these are non-essential, non-gameplay altering cosmetics and nothing more. Respawn should simply allow purchases of single items at their pre-established prices.