Given that the design is open, it should be possible for another company, who doesn't have these sunk costs, to deliver the same phone for less.
Does this mean that they have the price wrong? Can selling open designs ever recoup such design costs?
That being said, Pine64 has been able to make a similar device for far less also using their own design, so I'm a little skeptical that hardware design was such a large part of the price. I'm guessing the bulk of it was getting the SoC up and going since Pine64 had similar products that likely make it simpler to design a phone SoC.