Back to the "why so cheap" question, beyond what's already been said, this is partly the economy of scale, whereby all of the materials and expertise is on hand for making more expensive pipes, so by adjusting down the materials, finish, stain, etc., a highly serviceable pipe can be made in volume at relatively low-low cost. If you had to gear up from scratch to make this same pipe, it would likely cost at least twice as much. And some money is made back in selling volume at low price rather than higher quality for more.