People are hard to please. Give them cheap plastic devices with bad hardware components that break easily, and they will complain about the quality. Give them more sturdy hardware wallets, built from more quality materials and with better hardware, and they will complain about the price.

Hardware wallet manufacturers are producing that what users want to see. Everyone prefers bigger touchscreens, cameras, non-plastic bodies and covers, etc. Plus, they want their hardware wallets to look good, like they are starting a family with them. All that adds to the price tag.

There are still models that don't cost as much. Trezor has a few. You can also go for the DIY options, such as Seedsigner, Jade, Krux, Specter, etc. These are also airgapped, which is an additional benefit. If you only need a hardware signer for your bitcoin, they aren't that costly. Passport and Coldcard are exceptions.