Increases in complexity and general inflation mean that everything electronic/mechanical has increased in price over the last decade. Back then, even flagship cards were fairly simple by today's standards. There's at least five times more parts on today's cards.
Flagship phones were a few hundred pounds rather than over a thousand and even though they are loss leaders, consoles are three times what they used to cost.
Yes they are "simple" by today's standard but they weren't simple back in their day. They were just as complex to design and construct back then with the technology available at the time.
Technology is supposed to become better for the same cost else it becomes pointless as you never get progression.
