Mdb, it's too bad we couldn't have J. Carr weigh in here with a proper explanation as he has been very forthright and most revealing in the past on A'gon about many things analogue and Lyra.
As I understand it, when replacing a cantilever, you wind up completely rebuilding and tuning the suspension in place, unlike "retipping" which which is merely refitting a stone. The only thing saved is the base housing and the rare earth magnets, though still of value, most of the value lies in the craftsmanship and time. A highly practiced and skilled builder, under a microscope, must rewind the moving coil (thinner than a human hair), and solder in, precisely and tune the whole assembly in place. You wind up getting a new cantilever/stylus (which in a Lyra is custom cut and polished as I understand it, not off the shelf like many, many high end carts), suspension former, hand wound coil, and the dust close out sheet. All this must be tweeked to perfection by a craftsman who understands the results, not a trainee from Walmart or a backyard mechanic. It is a tedious, precision task.
So I think it is unfair to color this as some have, and underrate what you get for what you pay. Some have brought up the point that there are others that will make a functional facsimile of a MC cart for a hell of a lot less. This will always be the case. I would argue, if it sounded like a Lyra, but it doesn't, than buy it. (Caveat: there are a lot of nice sounding carts in the world, pick your flavor) A customer must decide for themselves what makes sense, and what satisfies their needs. I can't speak for someone's ears or decide with their wallet, but I certainly can with mine. This is a hobby or pastime of discriminating taste, and nuance, and for me, Lyra has proven a level of excellence that is rare these days, rare has a price.