But in a profit driven economy, hobbies are fertile ground to make great margins by creating the illusion of need and effectively price fixing with competitors without actual direct organization.

In so, so many fields, prices are set by no force more real than what the consumer is willing to spend. Not materials, not labor, not logistics...just "it costs this much because that's what people are willing to pay".

That's why it's worth getting into non competitive hobbies: the difference between expensive gear and basic gear has far less impact on overall enjoyment of the hobby when that difference doesn't correlate to the difference between having a competitive edge, or not, due to gear. At that point, expensive stuff is a luxury and an option, rather than a prerequisite to be on equal footing.