I read your post several times. Perhaps my lack of education in economics is showing, but I have a hard time understanding phrases such as "the opportunity costs of deploying capital".
The cost to produce an eBook isn't based on the selling price of a trade paperback, which seems to be the argument, here. Are you saying if publishers wouldn't spend money producing trade paperbacks, eBooks would cost less because there would be more money overall in "the bucket"? I don't see that, either, because trade paperbacks make a profit.
In short, I don't see any direct link between production of trade paperbacks and the cost/price of eBooks, other than the artificial pricing structure of eBook selling price = current print edition price.
Hard covers also "sell for a lot", yet that hasn't stopped an investment in eBook infrastructure.
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