My opinion:
Part familiarity/comfort level with older, proven designs and part value in that turntables are a niche item these days compared to then and prices are accordingly high for good build quality.
By the way, being a physical device that derives much of its performance from build quality, turntables ( and speakers as well for similar reasons) are two parts of the system that benefit the most from solid construction and build quality that tends to be expensive these days.
Part familiarity/comfort level with older, proven designs and part value in that turntables are a niche item these days compared to then and prices are accordingly high for good build quality.
By the way, being a physical device that derives much of its performance from build quality, turntables ( and speakers as well for similar reasons) are two parts of the system that benefit the most from solid construction and build quality that tends to be expensive these days.