There are some brands of bicycles that can cost more than the down payment on a car. Why? Surely making a bike lightweight and reliable isn’t so difficult that it warrants that price? Is it just the brand name or maybe it has to do with customization options?
I see no evidence that these bike manufacturers are super profitable, so I doubt there is much “massive profiteering”. Good bicycles are a high tech but low volume industry.
I spent 1.2k on a lower-end-good-bike 11 years ago. It’s the best fun per dollar purchase I’ve made in my 60ish year life. I wish I’d spent a few hundred more for an Ultegra group set.