Although the margin is pretty high on these, you have to consider a few things. Polymer of plastic is probably different than Coke (HDPE vs. LDPE), and the black dye adds cost. Foam is probably cheap, but a good portion of assembling these is probably manual, which also adds cost, probably not all done on an automated line. You also have to consider the different tooling and molds to make the different sizes, so possibly a few different lines. And since this is made in Japan, the labor and overhead is more than China or Korea as well. However, they could probably lower the cost a few bucks and still make a decent profit, but this is fly fishing, and everything fly fishing is expensive unfortunately.