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I question the statement that publishing authors' backlists isn't profitable. I think I've read of several authors who have made quite a bit of money on their backlist on ebooks by pricing them reasonably.
As leebase says, "Lots of sales at a low price takes money away from higher margin new books." This hurts midlist authors who would benefit from their backlists going to ebooks which is why many of them are self-pubbing or turning to Amazon which is good for those of us who think ebooks should be cheaper than print.
When I think the ebook price is unreasonable, I try to download it from the library. Unfortunately, several of the big six won't sell ebooks to libraries so then I put it on ereaderiq.com. If it's a book club selection, I buy it used. That way I haven't rewarded the publisher.
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