It fairer to compair to the A-Wing. You are swapping an ungodly dial for 1 hull, a boost for a barrel-roll and paying 3pts for the privalage.
Actually it isn't fairer to compare it to the A-wing due to the fact that that ship didn't exist when the Advanced was released. At the time of release, the most comparable ship was the X-wing, and cost to cost, it's right in line. When you do comparisons, you do them by legacy. For example, your father doesn't look like you, you look like your father. If you do the comparison properly, the A-wing is undercosted, not the other way around.
That said, your assertion reinforces my initial preposition because the A-wing still isn't that popular either. Granted it's used more often than the Advanced, but if the Advanced is overpriced, then a 4 point decrease in price and upgrading it to the best dial in the game should make it a very popular tourny choice. But that isn't the case, so using the "doesn't appear in tournament very often" argument is even less credible. Any 2 dice ship is going to be unpopular in tourny play unless you can field a large number of them (like regular fighters).