I think part of the problem is piracy. Once you get an ebook you can upload it to filesharing site 5 minutes later. Then everybody can get it for free. You can't do that with physical books. So I guess publishers simply set prices high specially for books they know will get read and pirated in order to get some money.
Tied to this is other gripe I have, that is availability. I have a pretty narrow field of interest (historic non fiction centered on few periods) so getting things from established authors is hard. That goes double for older but still relevant works.
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