The mass production discount must not be overlooked, whatever most people want becomes the most cost effective, and it appears that most people want cheap, and so anything beyond the absolute minimum costs a lot more relative to the quality.
I don't believe the "people want cheap" spiel. Sure, they want affordable.
As consumers can not tell the quality of products beforehand, and price is certainly no guarantee of quality, the only logical choice is to buy cheap.
I wish there was a sort of rating of product quality [1], so I can choose the optimum price/quality for a product.
[1] Reviews suck for this purpose. Half of them say things like "Fast shipping, five stars!". By the time defects show up months later and the one-star reviews arrive, the product is discontinued anyway.