I think that 4 is the right price but I'd probably prefer Port (and Busting Village with no Settlers in my deck) over this in most Kingdoms. Even if they provide a shitload of actions you still need several of these villages, especially so as they don't draw.
In other words village density is more important than not drawing a card but providing a lot of actions. The marginal benefit of an extra action of a village beyond the second one decreases quickly.