Update 07/02/2019 4:20pm:

The Nike Air Max 1 “Betsy Ross Flag” was recalled after originally being scheduled to release on June 29 due to concerns about the design that were expressed by Colin Kaepernick. Now, it appears prices for the shoe have risen over $2,500 since being pulled.

The shoe had a retail price of $120 but now is reportedly going for over $2,500 on StockX.

source: TMZ

Original 07/02/2019 9:28am:

Colin Kaepernick must carry a lot of weight over at Nike because the athletic apparel decided to pull its upcoming Air Max 1 'Betsy Ross Flag' which was scheduled for a July 4th release after the former quarterback raised concerns about the company selling products that featured a slave-era emblem. The Betsy Ross Flag first appeared in the 1790s and features 13 stars in a circle representing the 13 original colonies of the United States. Kaepernick and others pushed Nike on their decision, not only about selling merchandise featuring racially insensitive symbols but that the Betsy Ross Flag has been resurrected as a symbol for the Patriot Movement and Identity Evropa (pronounced “Europa”) as representing white nationalism. 

Public outcry, stemming largely from Kaepernick, forced Nike to recall the sneakers which had already been shipped out to a number of retailers. It's no word on what the company will do with recalled apparel. 

Source: bbc.com