As others pointed out, there is a fair bit of difference between those toy grade transmitters and programmable RC grade transmitters, and the price difference is not that big. That WLtoys transmitter is far more comparable to a ~$50 turnigy transmitter than a ~$200 taranis/DX6. And even the turnigy will give you 5-10x better range.
That said, manufacturers probably do have a nice margin on the midrange and particularly high end transmitters. When you look at whats inside, there isnt anything remotely expensive in them. Price differentiation is often done based on software features that require no more than the processing power of a ~$5 atmega microcontroller.
The situation today is way better than it was 10 or 20 years ago, back then you might pay several $100's for the luxury of things like a $5 LCD or more model memories, which required about the same amount of memory as, well, a casio watch or something. I remember paying around like 100 euro (before the euro existed) for an extension module what was essentially two switches and two potentiometers for a Robbe Mars radio.
Thing is; we often use these transmitters to control planes that cost many times more, in which we invested countless hours of work, and which have the potential to do some damage if things go wrong. So most of us dont mind paying a little extra to ensure the manufacturer has enough margin to engineer its PCB's properly, for decent QA and is not produced exclusively with the cheapest components on the market and soldered together by people who cant solder. The price tag alone wont guarantee you that, but brand reputation to some extend does.
IOW, even though the difference isnt quite as big as you believed, its probably true most of our RC transmitters are still "overpriced".