My basses are all Warmoth builds, with a lot of stuff you can't get on off the rack basses (light roasted bodies and necks, graphite rods, etc). Even with all that, as I do my own finishing, it still costs a bit less than an off the rack MIA Fender - for a much nicer bass. It's about half of what an equivalent custom bass would cost you if you hired someone to build one. Yes, Warmoth's costs have gone up, but if you know what you want, and how to do some of the stuff yourself, it's a "relative" bargain for a very well made instrument.
A will also say that, although our prices have definitely gone up, if you want to know what an expensive musical instrument is, buy a nice cello. Or a bassoon. Or, like the woman who I used to play with at some gigs, a harp. Or a grand piano. Basses may not be as insanely cheap as they once were, but they still are cheap instruments. Yes, that includes that Fodera that none of us wants to pay for.