The material cost isn't as low as you might suspect it is, and once you factor in freight and production overheard costs, they wouldn't be profitable or sustainable in the $1-1.2k price range.
That said, I'm not here to convince you to buy one. Heck, even with my employee discount I couldn't justify purchasing one without saving up for a while by only eating ramen for every meal, but I'd love to have one.
Having seen them in person though, they are pretty amazing, and a big step up in terms of the overall function and design, especially the cookbox.