Why do the new top quality LED lights cost so much?
That's easy, it costs a LOT to design and produce.
Take a look at the top of the line regular (non-LED) lights, they can cost over $500 a pair and don't produce as much light. The bulb is basically the same in any of them. The big cost for them is the reflector and lens.
That same reflector and lens cost are incurred for LEDs only an LED light bar can have 20, 30, or more of each. To this add the cost of the LED chip used for these lights. Each can cost over $20 (times 30 = $600 just for the bare LED chips at wholesale). Then add the electronics needed to convert the 12V to the voltage needed by the LED. Lastly, add the cost of designing and producing the heat sink needed, which is no easy trick. These lights give off a lot of heat and getting rid of it isn't easy. I have a pair of Baja Designs cornering lights with 4 LEDs and the heat sink gets noticeable warm in under 1 minute (starting at room temp). Heat is such an issue most ads for quality high intensity LED talk about their heat sinks and how they're better than the competition's.
Will prices come down? Of course but not too soon and probably never to the price of a old fashioned KC-HiLKites.
All that said, I'm trying to justify the $1800 for a 6 cell (44") OnX LED bar.