Because they want to control as much of the market as possible, everyone and their dog is using LLMs for work and mails and groceries.
That doesn't change their usefulness, if tomorrow they all increase the price x10 it will remain useful for many use cases. Not to mention than in a year or two the costs might go down an order of magnitude for the same accuracy.
I guess compared to a "high end" pen its crap, but its like saying that the Citroen 2cv is crap compared to a semi truck if we talk about cargo capacity.