I would love to use Adafruit boards in my production, but I have to resort to custom Chinese PCB stuff to be competitive. I don't want anything, but taxes and CoL is basic business logic.
SparkFun is in Colorado, which isn't a low tax state but their cost of living is still lower. So all else equals, they are going to earn maybe 5-10% more profit on the sale of a commodity item like a Teensy. You have better products than they do, all else equals you could earn 25%+ more than them, by simply moving to greener pastures, whether that be NC, TN, NV, or FL.