Is it only because it's a niche, so we have to pay a premium?
Why no other company is selling the same, cheaper?
Last question: do you have one on your PC? how good is it? (regulated power, silence if the brick has a fan, etc.)
its expensive because of its quality and small size.
there are other companies selling knock off "picos". (i wont link to them because I believe they are infringing on pico's patents)
i have 3 pico's, and love them. my bricks have no fan, so they are truly silent. the only moving part in my PC is the single 140mm fan that stays under 750 rpm.