That's correct if you just look at the component costs. Unfortunately, to make these in a small series, a lot of other costs come together. If we could, we would offer it a better price. Maybe some time soon!

I really feel for the creators here. I was thinking exactly like that before trying to build an electronic device myself.

Later on I talked to people working in the hardware industry for small production scale, and pretty much told me that a fair pricing is usually 5x to 7x the total BOM (bill of materials).

After going through that experience myself, I couldn't agree more. This device in particular has some extra well thought design and style which might be worth a premium (on top of that 5x/7x multiplier).