But, the bracers *do* allow the use of a physical shield, something the Monk's belt does *not*, and therefore, again, is the better item.
And, *yet* again, to *fully* benefit from the AC bonus the belt provides (which seems to be the whole basis of Infiniti2000's arguments), a character has to be very *specifically* geared to using the belt for AC, and spend a *considerable* amount of wealth to come *close* to providing the benefits real armor would. Non Wis Prime spellcasters would have a *much* harder time getting the maximum benefit from the item. And, the benefit to monks has *nothing* to do with AC, so for monks, it's a non-issue as far as pricing goes.