There are some brands of bicycles that can cost more than the down payment on a car. Why? Surely making a bike lightweight and reliable isn’t so difficult that it warrants that price? Is it just the brand name or maybe it has to do with customization options?
Gotta think about what it takes to develop a product, combined with the size of your workforce, and the size of your consumer base.
A massive company like CCM can make a decent, cheaper bike because they have mass production facilities on their side. However, those bikes, serving massive consumer bases, are probably more of a “one size fits all” type solution.
Want something more bespoke? Thats usually when you look to smaller companies. They usually have a much smaller team, and that means the product takes a lot longer to develop; prototyping, testing, reiteration, etc. That all costs money, and that has to be recuperated. These companies are usually made up of people who know some consumers are into the product enough that they want a custom tailored version of it, and know they are willing to pay for it, and wait for it.
As for brand image, thats probably part of it for some people, but I personally know a couple people who have very nice custom bikes with little to no branding. They’re into it enough that what matters is the quality and performance.