IMO because they can get it. Just like anything else there is a market for the product. Their market is what the fishing world calls the enthusiasts. Personally I would not buy a Loomis just to much money spent on an item that in the long run is disposable, but other ppl get satisfaction out of having what they consider the best. Every activity has brands that cater to different market niches, take Sporting Clays for example, you can be proficient using a pump shotgun, many ppl shoot auto loading shotguns Benellis, Berrettas, etc. You can hit the course with what ever shotgun u like, in that hobby a custom Fabbri is what many consider top gun, at $50 grand a gun, not many are seen. But others use a custom Purdey starting cost around $100 grand, minimum of two trips to England to be measured and about 18 month wait. How are they still in business? Because ppl are willing to pay, are these the best guns made?? Depends who u ask. Its the same with fishing, or golf, or cars, clothes the list goes on.