I think you missed the most important thing.
The cart itself, it isn't cheap, it's 8x faster and delivers a better gaming experience. They could have easily gone a slower medium and forced people to install the game to the console to play.
I know not everyone will be happy with that but as a game collector of physical, I like that they play straight from the cart. Hell I was advocating on this forum for years for carts that has write ability on them too, so you can upgrade the game carts with patches and DLC, but that would have been even more expensive.
Another less important reason is that Nintendo games have always been the best return on investment. They just don't crash in price. If anything they go up. I have games older consoles that cost me well above RRP because I never bought them during the period it come out.
