It's also far less like bikes than you're thinking. They have 5 major adjustments for a total of about 25k different configurations. And those don't seem to be majorly exclusive to each other either.
[0] Check out the number of tweaks available in their configurator: https://notawheelchair.com/pages/configurator
We sorta have that with everything though, you can source direct from china for a fraction of the cost, but the often pay several multiples of the actual cost for someone else to import it and provide the level of support and QA you expect from products.
Only because bikes are made up of commodity parts from many suppliers which drive the costs down, whereas this is mostly bespoke.
It is hilarious that people keep throwing out prices of $200 or $500, when $200 might get you close to the cost of one of the wheels on this.
>IMO the disconnect is this looks like such a rudimentary/basic product
Only to someone that's not familiar with what this is and what its competitors are.
I think that's what people are missing.
His competition is $5k wheelchairs that are often pictured with another $10k + of customizations.
I don't think that most people realize that $5k wheelchairs don't come with so much as a seat cushion as standard.
https://freakonomics.com/podcast/why-do-your-eyeglasses-cost...
Frames have crazy 100x markups and the market is dominated by a small number of companies. They interviewed people from Warby Parker (a newer, more inexpensive brand) and even they said they had to raise prices so they didn’t seem like knock-offs.
A $10k bike designed for racing has the same kind of components as a $100 bike from Walmart, but every single one of them is far, far better - better materials, higher tolerances, a geometry finely tuned to the rider. None of that is really obvious until you look closely. A rally car looks kind of like a road car, until you realise that it only shares a few body panels - every other component is built to a far higher spec.
Maybe this would be a $200 product if he was mass producing them to the same dimensions. But he's not, they're custom made on order to the dimensions of the user.
I've owned a few low cost Chinese bikes, and while they're OK, there's always parts on them that fail because they're clearly made to be as cheap as possible. If I depended on a wheelchair for moving about every day, I'd be damn sure it was well built and reliable. That's the market he's operating in.