The cartridge and phono stage have to be compatible. If you have a $500 phono stage that only accepts moving magnet type output, then there's where you have to look. So a $500 phono stage means a $500 cartridge, for the most part. If your phono can deal with low output moving coils, or if you are willing to get a transformer or head amp, then that's a better option, but also more expensive.
Basically, it's a budget thing. Get the best you can afford, because the more $ you throw at analogue the better it gets.