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Sometimes the cost of processing itself is non-trivial.
Fermented sauces, for example, tend to be much more expensive than just the raw ingredients, because the process itself is complex (and requires significant labor and/or equipment to keep safe for human consumption).
In order to make some of these plant based meat substitutes, the complex processes need to basically move enough volume to be able to take advantage of economies of scale. So we'll probably get there eventually, at least once these plant protein products become mainstream enough.
Increased demand for these products will bring competition, which will bring costs down. So support these guys when you can!
Yes, all fair, and I think you are right. Add in that they are trying to cut against the grain of a system that revolves around setting up huge incentives for beef production and it's going to be tough to match on price.
Still, it's rather annoying.
I tend not to eat many substitutes in most cases, especially at home. I don't really need the extra sodium of something like Impossible...
I've been at places where the veggie options were rather limited, but they'd have burgers on the menu and you could sub in an Impossible Burger - for an extra $4. And last time I've eaten there was prior to Covid, so I'm sure it's even more now...