While there's certainly mark-ups, the most popular modules are made by their manufacturers rather than outsourced to China. Doepfer in Germany, Make Noise in the US, Intellijel in Canada, ALM in the UK, Mutable Instruments is outsourced but only to another part of France. Long lead times on certain modules are par for the course when they're being made by one person. Of course, when it's one person making everything, the total output of stock is going to be low, and thus the economy of scale that something like a Raspberry Pi is able to take advantage of is reduced, especially with moving parts like potentiometers, which can cost more per unit than a micro-controller.
There are people making modules for dirt cheap with razor thin margins, mostly as a side job, and there's always the DIY route if you want to save a few pennies.
That is certainly good to hear. Though I would argue that it is those manufacturers who deserve a lot of the credit. I don't want to be a buzzkill. I just hate when people get to to have their cake and eat it too.
All these words like "boutique", "indie", "hacker", "custom" or whatever you want to call it has meaning. Their positive connotation is based on some sort of substance. That there is something unique going on. Whether that is independence, a scene or something else. And Stockholm is truly awful for that these days.
I am certainly not negative toward independent, or small businesses. But as you grow there will at one point be significant incentive to pretend that there is substance when there isn't. So at one point you are selling "craft beer" from you mansion, while everyone else is struggling with e.g. distribution.
On the other hand sometimes people are scrappy just for its own sake, which isn't necessarily good either. I am not necessarily against outsourcing (even though I think a middle road would be the best), just put in on the tin.
There are people making modules for dirt cheap with razor thin margins, mostly as a side job, and there's always the DIY route if you want to save a few pennies.