People tend to blow off how much low quantity electronics cost to produce, but it really is outrageous.
If you only have moderately good relationships with a company, more than 4 layers to the board and only do small numbers, it will cost you a ton of money.
You also have to pay for the prototypes you wasted getting the design nailed down. Those boards in quantity 25 or less can cost a ton each and be completely useless.
I'm really impressed with how low the price on the replay board is, he's clearly got good funding and relationships with the manufacturer. (now if they'd ever be available for sale!!!)