Bullshit. He knew that was not the price for that much cheese and I guarantee the weight was on the tag (almost like he took the tag off a wedge). He is just a shoplifter like all the smash and grab trash we see in the Mike Brown thread. $10 would be 8oz or less wedge of Parmigiano Reggiano (making that at least a $860 theft)).
Price switching (using tags from different products) is a known method of shoplifting. I doubt the police will care if he didn't switch it himself, which he probably did. If this gets enough publicity, he might get a visit from them, otherwise I doubt they care enough to do anything about it.