I do not understand why a serious engineer like Arthur is described by you in that manner.
Yes the arm is very expensive. However if you have any idea of manufacturing costs for such a thing in low quantities plus a reasonable (yes, reasonable) profit then the price shouldn't surprise you, viz. the SAT arm by comparison.
Remember that the retail price of most items will be roughly at least 5 times that of manufacture. That rotating metalised disc at the headshell and its miniature bearing will be very expensive to buy in to start with.