…advertising, manufacturing, and overhead is relatively expensive
What about R&D costs? This is a major factor in driving up costs. I’ve been to the Magico manufacturing where they gave cutting edge equipment including computers, CNC aluminum cutting machines, etc. IIRC they recently build/upgraded a $250k sound room. These costs must be covered by sales income.
I have Vimberg Mino D speakers whose Herculean construction is designed to reduce cabinet resonances and the finish is impeccable- this obviously adds to the cost. The Diamond tweeter obviously is costly. It is not some mere random markup. I’m fortunate that I could afford this speaker which is the lowest model from trickle down technology from Tidal.
I also have the Constellation Inspiration electronics. Again I’m the beneficiary of trickle down technology as my electronics are Constellation’s entry level. These were listed in TAS top 50 bargains. This doesn’t seem to fit the OPs random markup theory