IP is priceless, and Canon like anyone else can sell it at any price they want. Software companies have been doing this for decades.
I sincerely hope the usual Canon bashers here don't rant in this thread cause Canon is selling the same hardware for double the price. As I always say, if you can't afford it, don't buy it. Just because you can't afford it doesn't mean you should rant about it - if you're so pissed go invent one yourself and I dare you to sell it at the price you're thinking of.