The cost of manufacturing is probably very low in comparison to the
final price. Either I am being price gouged or there is a tremendous
amount of inefficiency somewhere along the way.

There is inefficiency along the way. It's basic economics. As another
poster seemed to indicate, the less units produced the higher their
cost. Not only for the mfgr but further on in the supply chain until
it gets to you. Sure there is a markup on everything, and in this case
the one 20A switch that sat for six months displaced the 20 other 15A
switches that would have moved if the space were available. And the
market will obviously bear what you paid.