Aren't Nikon and Sony already providing competing products?The price of this lens is why we need Nikon, Sony, Tamron, Sigma and other companies to release competitive products that will force Canon to reduce the prices. Competition is a good thing.
Canon is in business to make money. They don't have to be the cheapest if their overall system is better (whether technically or in people's minds) as long as they sell their target sales volume. That seems to be already happening for them and their market share is still going well. Good margins means continued investment in R&D for new products.
Tamron and Sigma have no RF lenses but have EF lenses. Samyang's removal of their RF lenses could be ominous to the future of 3rd party RF lenses (see 3rd party lenses for RF menu to the left).
Canon never had to reduce their own lens pricing because of 3rd party lenses. I get that you want the RF lenses but don't want to pay the asking price. New EF or second hand EF are great value in comparison. My EF16-35mm/4 works great on R5 and is good value for money! I will keep using it.