Total costs mentioned above, for a circa 2000 tool design, were in neighborhood of $50 - tool + pick at my friendly machine shop. (this was a mostly unoriginal design) Offshoring is of course cheaper. Liability, Marketing, Distribution etc. pushed it substantially higher.
If I get a chance I'll try to access my old HD - it has a copy of a business school study of Black Diamond - their costs were slightly higher ($60-70) but the majority is still 'other'.
No, it's not bullshit, it's just the retardation of evaluating something on the cost of manufacture, not on the 'total' cost. That shits dirt fucking cheap. If you'd like I could take you a tour of the machine shop whose owner quoted me those rates - it's way more impressive than BD