If someone wanted to make the necessary investment to produce them by the thousands in China, that price might not be too far off. But the reality is, it's an item with limited appeal, and right now, it's the least expensive and most readily available mod in this form-factor.$15 would be an attractive price for a peko
FWIW, the v1.0 (a beta version that was never released to the public) that I put together last summer is still in my daily rotation. They're fine little mods. No, they're not as fancy as a pdib, a CC, a VR, or a Tmod. But they're every bit as functional.