Yes because you put the $200 in quotes, it's being treated as text, and text has a "value" of 0.
If you want it to be a numerical value, change your formula to:
=IF(E3="",0,IF(ISNONTEXT(E3),200))
or
=IF(ISBLANK(E3),0,IF(ISNONTEXT(E3),200))
and then format the cell as currency.