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it's not like fitting larger tyres in it should command a premium
You and I both know this is exactly how the world works.
Fashionable and ‘on trend’ things will always command a premium over items that are less desirable.
Economy of scale may come into play in some spheres but cycling isn’t really one of them imo.
M_V
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"worth nearly £475"...
Yes, but only if paying full retail.
The point of buying a full bike from the manufacturer is that you're getting a deal based on the full build.
700 for an off the peg single speed is pretty shite imhop, it's not like fitting larger tyres in it should command a premium