Many cycling items are not high priced. There is a widse range of prices for similar items depending on many factors.
Looking at the retail cost of an item and assuming that the manufacturer of that item is making a large profit on the item is probably a faulty assumption. If you had the data, you would probably find that competition to get themanufacturing contracts requires the factory to price the items with a fair profit margin. As the item moves through the supply chain, it may be marked up several times before finally getting to the retailer. Once in your LBS, the item may be marked up more than double what the LBS paid for it. This is especially true for accessories and clothing. Bikes and big ticket items are marked up far less.
Curiously, I noticed that the OP does does not have a red star next to his username. I would have thought that someone so concerned about people getting fair compensation for their labors would be sure that the guy who devotes so much time toward the care and feeding of this valuable resource was adequately reimbursed for his efforts.