To say, "There is no more than $X amount of dollars in a product therefore it's a rip off" is stupid. Regardless of what the cost of the parts are, there is overhead, time, sweat, and money involved in making any product. No one, Motorola, Klon, or anyone else, are making things for the fun of it.
When Klon was still making pedals I contacted Bill a few times about getting one. Even back then they sold for a premium despite him still making them and he would let you know how insane he thought it all was. I think the wait time was only like a month, too. Never pulled the trigger for one reason or another. I wish I had.
These things aren't going to get cheaper. Bill is working on a new design, so these will only increase in price.