I was just playing around with the Schertler configurator trying to build my dream minimalist mixer. When you consider the modules are all discrete components, ~$400 a module doesn’t seem so outlandish.
That being said, you have to wonder if there is a business opportunity for modular mixers that employ a more pedestrian signal path. Not poor quality, obviously, but using quality ICs at a lower cost.
Maybe the market for $5k smallish mixers is stronger than I imagine and I certainly don’t know if switching to ICs would make it any cheaper (maybe it doesn’t). But its worth mentioning that Alessandro Cortini was/is touring with a $100 Behringer mixer. Its… not pretty… l but I guess it works for his music.