The cost of materials for the Noesis is about the same as for the Arcus. BMS coax + horn is about equivalent to the TPL-150H. The dual woofers is approximately in line with the TD10M. I doubt JTR uses audiophile grade wire and binding posts of course...and that does add to cost...and some people do value that stuff. Yes, the large Noesis speakers are not the sexiest around, but these Arcus are not small either. In fact the sealed Noesis is narrower, the same depth. It is a foot taller because of it being an MTM. I only mention the JTR Noesis because I knew the cost of the components used and I knew they were in the same ballpark. Maybe the curved box is worth $1000 additional per speaker.
I'm not suggesting Vapor Audio should get anything less than what the market will bear. I was just surprised to see markup that high. Like I said, I'm years removed from buying retail speakers. These don't even include a dealer markup. Maybe I'm just out of touch. Most of the time it is harder to identify the price of components in retail speakers, but in this case I knew the components well.
As far as building a stacked MDF curved cabinet cut on a CNC, it is actually quite easy and not labor intensive. There would be some sanding, paint prep and painting time. Now with some of the other more expensive veneered speakers I can understand the costs being high due to the labor and materials involved with making them at a high level.