It seems to really overpriced in terms of raw materials and manufacturing costs, and what you’re really paying for is just the fact that it’s damned handy.
In terms of raw materials it seems like a 12oz can should be profitable priced at a dollar or two but even on Ebay they start at around $8.
The air costs pennies. The can? That’s a different story. Refillable aerosol cans cost around $8.00 empty. They have extra hardware to make them refillable, but don’t hold nearly the pressure that single use cans come with.
You can buy a 12-volt air compressor for $12.48and have a virtually unlimited supply of air for dusting. However, as the OP notes, there’s an additional price for being “damned handy.”