Same story as last year unfortunately, global costs have gone up due to the 'economy' apparently.
You get less, for more cash.
It isn't just Giant bikes either. Once upon a time pretty much all makes sold bikes with 105 throughout for less than a grand. Now they are few and far between and are certainly not the bigger brands either.
+1 for the stems too, unless they have shortened the top tube a little. Every Defy owner I know wants at least 1-2cm shorter, so it was a bit of an odd component choice.