It's not like there are high barriers to entry in this market, nor there is any exclusive licensing or access hurdles -- like telecom spectrum, or fiber lines for ISPs. Nor are there any compatibility exclusions (proprietary connectors, protocols or walled gardens).
For most people, they want a printer for convenience but not enough to pay good money for good parts
So this market of shittier printers with cheap parts exist. While I hate cheap inkjet printers, they did work enough for what I needed them for and they didn’t cost a fortune… so the market continues to exist
/shrug
Can't vouch for other types eg. inkjet models though, as I try to avoid those!