A good bike today costs about half or maybe a third that, not a 10th. You can buy bikes for a 10th (many do), but they are low quality bikes that are 10th the price, but the quality is lacking. If you want a bike made by hand the way the wright brothers did it would be far more than that price (but the only people doing that are serious racers who demand much high quality and other custom things so I'm not sure this is fair)
I said a /comparable/ bike, single speed, steel tubing, medium precision chaining and teeth on the gear.
A similar price will get you a wildly superior bike the likes of which was well beyond their craft, quite serviceable pedal assist bikes are selling for under a thousand these days.
