Because that's what the market will bear. Take a look in any bike shop. Why would someone spend > $100 on a friggin' jersey?

To be fair, the market is changing VERY FAST. 6 months ago, a light that performed like this in this form factor (ready to mount, built for a bike) was at least $300. Now it's $90. Most companies can't change their products or distribution that fast.

In fact, it's very likely that lights like the Lupine Tesla 4, which is essentially identical to the MS 900 light, will never drop in price that much, because there are dealers who have it in stock and they probably paid $300 for it. They wouldn't like it if Lupine suddenly changed the MSRP on this light to $150.

So the manufacturers will have to introduce new lights with a lower price. In order to not ruin the market for the lights that they still have in the pipeline, the new lights will be very cut back in some way; no features, low run time, whatever they can get away with and still be at all competitive with the cheap Chinese lights.

Eventually they'll get there but it'll probably take 12 to 18 months at least. And they'll never get quite as cheap, but they won't have to. There are always people who will pay more for one name or another.

Honestly, if someone were building these in the US, I'd pay maybe $150 for that. Not because I think they'd necessarily be of better quality (though it's likely, IMO), but just to keep the money/jobs close to home. But I wouldn't pay $300 or $400 for the US equivalent of a $90 Chinese light. For that much of a difference I'd rather keep the money in my wallet.