I dunno why I feel the need to add to this, but here we go...
Yep, the cost of materials is only a modest percentage of the cost of the knife.
Processing them into a knife requires energy, equipment maintenance, rent/mortgage/etc., insurance, and LABOR.
I can make a knife that costs me $0 in steel and wood. Actually $0.
But it will put wear on 3 belts (each ~$8 at my scale), burn propane (assuming recycled "free" steel), electricity, and epoxy.
Then add the 5-8hrs at ~$20/hr (my modest pricing rate) and factor in rent for my space (which I don't because hobby) and you're up to a *minimum* of $120 per piece at hand-made one-off scale. More like $200+ for something not a scrappy mess shoved into a file handle. Not counting sheath ($25 in time and materials for basic kydex). The only blade I can justify selling for under $100 is a birudashi because little polishing and no scales.
And if I consign (retailer but no middleman), I accept less and the retailer adds a premium. This comes out to a slightly higher price to the customer, but they can have it *now*.
With all that in mind, I think Kabar's USA-made line is very reasonably priced.
If the retail markup over what the dealer pays is even as high as 50%, they've got the economies of scale working for them quite well. They don't sell to individuals at those prices because the dealers provide the bulk purchases that allow a "large" business to keep the money flowing more consistently.
Sure, stuff molded in China in bulk is cheap. But setup for that is expensive, and you don't do one-offs. You have to order that in bulk too, which means you need cash on hand or a good line of credit backed up by a viable business. That means sales premiums that in the aggregate will cover the large bulk investments.
So.
Supply chain ain't the whole story. It's expensive to run a business and keep it open over time.