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I once would have also thought the same with regard to the parts costing, but after designing and delivering kits for backers of the same Delta that Lykle and I have that convert to belt and zero lash (http://www.thingiverse.com/thing:883347) it became quite clear that the component cost alone doesn't actually entail all of the costs involved in developing and delivering a product to a user/market. Also as stated in the campaign video and description injection molds are expensive (in the range of $20K).

The cost of a product is only partly defined by the cost of the individual parts, if you read the book "Product Design for Manufacturing". You will find that all the other aspects of a product generate 60% of the cost of a product. A lot of money went into the prototypes. Over 1700 euro's was spent just to get all the features, wall thicknesses and tolerances right. In total, this was a big investment for us. And we have to be sustainable on costing so that we can continue with our future product ideas.

BI V2.5 V-Slot Magnetic Ball Joint Conversion