Well, I guess that's one way to look at it. Of course, another way, which happens to be my way, is an appreciation for the free shipping (I'm not sure I know of many cottage manufacturers that do it. Not saying none do, only that I'm not aware of it). I don't feel HMG's prices are ridiculous at all, I think they're quite fair. Their gear is made with a wonderful attention to detail, very well put together, their customer service is as good as any in the industry, and better than most.
I'll agree that you could DIY cheaper, but, really, that goes for just about anything. I'm not a DIYer, and I don't want to be one, so I appreciate quality gear made by helpful, friendly people for a price I consider quite fair, and that's HMG, in my book.