Let's say it is $20 for the material. Then it's CNC'd, anodized, and laser engraved. Then the Proto Star compression cap also has material cost and has to be machined. Then there's also the 5 bolts and the 1 1/8" starnut.
So yea, you forgot some.
im pretty sure it cost less then 20 total
everything is overpriced, in a good way i mean support proto if you can