Magic Leap only needs to sell (roughly) 17% as many Ones as Oculus Rifts, to have equivalent sales ($2.3k vs $400 device).

And while their current hardware is expensive, I would bet that their longterm plan isn't to sell devices that cost more than $2000.

Equivalent sales is a nonsensical metric between the two. I doubt their profit margin is 5x per device compared to the rift.