It's a combination of all of the extra bulk, eight part colors/materials and massive injection-molded flexible cloak as well as the globally increased price of materials (oil/hydrocarbons and therefore plastic) and manufacturing, shipping, and distribution (and even if this kit came out years earlier before the latter issues were compounded by things like COVID and rising oil prices it still likely would've been either in the $37-42 range or limited to P-Bandai). It's an unfortunate development across just about every hobby at the moment, and for all the rightful flak they get for anti-consumer practices (like making more new MGs exclusive to P-Bandai than released via retail each year for close to a decade now) they at the very least haven't ratcheted up their prices across the board as much as companies in adjacent markets (looking at you, Lego, Hasbro, Games Workshop, etc...)