Why are hardware wallets so expensive


Why are all hardware wallets $65+ and unaccessible for people who only want to store a few hundred dollars, people of 2/3 world countries and people who want multiple for thinkering, development or multisig.

The "hardware" of a hardware wallet isnt really expensive, right? With something like pitrezor it should cost 5/10 $ for a raspberry but raspberries are nowhere in stock or super expensive.

Is this a correct observation? if so, why is it?