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The corrrect answer is massive profiteering off of suckers.
There’s some engineering expense, that makes real bikes that last years and perform reliably, which makes it more expensive than a Walmart bike, but after that it’s rip off city.
Easiest measure to illustrate this, is the price of motorcycles. You can drop £10k on road bike or mountain bike, and still not really get top of the range. Look up what kind of motorcycle you can get for that money and then make a value judgement .
10k mountain bike is like 95% the same bike as what a professional mountain biker would use in a competition. 10k motorbike is consumer grade junk that would probably break within minutes if you abuse it like you do a pro bike.
10k gets you a brand new Yamaha MT-09: A sick-looking naked motorcycle with a 3 cylinder 118hp engine. It's really frickin fast.