Higher cost is often a result in increased difficulty of production. Silicone on its own isn't too difficult but special features can add to the cost.
Being an atypical shape, dual-density, and even having more than one color are factors that can make silicone toys slightly harder, more time-consuming, and more costly to produce. So the purchasing price usually rises to cover the difference.
it's a new product, sure you'll see prices going down one day for this toy. How many butt plugs made out of silicone have so many colors and the whole series? - barely none, people want it, and they can price is higher.
The Cody (same style) was about $40, which makes this about the same price range. It's a biggish plug with a big base, meaning that it takes more silicone than a small plug. It's also U.S. made and very high quality.