Good question. Why should any relatively simple reel, even one with a disc drag, cost substantially more than a baitcasting reel which is mechanically far more complex and whose parts must be machined to equally close or even closer tolerances? I suppose that production volume might have something to do with it, but I'm afraid that most flyfishing equipment is just plain overpriced. I think that the Redington reel is a good sign, an indication that an established manufacturer is willing to buck the trend and produce and market a quality reel at a more reasonable price.