You know that most smartphone companies (except Samsung, Google and Apple) wont make any money with smartphones? They create them to make advertise for their main business (for example cameras) while Purism has to live with the money. They also pay much less for an all-in-one soc and much less for Android as operating system.
If you want to compare the price, you also have to compare what you will get as features - no hardware kill-switches, no privacy, no (or at least much less) security, no open source (hardware included - third party apps excluded), often not the same level of support, often not the same level of possibility to repair and much more.
You pay so much more than just the power of the CPU. So instead of comparing this phone with one of the cheapest smartphones you should compare with an android smartphone which was build at least in a similar way. But wait - there is no phone that comes even close. Even PinePhone Pro costs 400$ with much less of those features and without software development (outsourced for free) or BraX2 (de-googled Android) costs also 400$ but is even further away from that feature-set.
I mean we can speak about the fairness of L5s prices, but we should at least in a more fair way.