I'll speculate that another factor putting downward pressure on the $400+ muzzleloader market is the increase in the number of states allowing crossbows during archery seasons. It's hard to find a $400 crossbow, it appears the "meat of the market" is $600-$800! That has to make the $149 muzzleloader that much more attractive.
IMHO, it is just an extension into the sporting world of the American psyche that tells many folks that a big pile of cheap stuff is better than a small pile of quality stuff.
