That does seem like low pay for a master of a craft. Maybe the claimed 10-20 hour process isn't really exclusive to one sword? If similar pieces are made in batches, maybe it takes 10-20 hours to go through the steps to take a batch of several swords from raw material to completion?

As an aside, my sister studied abroad in Spain and brought me back a sword from Toledo, which to a teenage boy was basically the most amazing gift possible. Good reminder to thank her again and/or send her something fun!