eBooks should be cheaper than the print version, there is no requirement to print and distribute a physical object and of you are not buying in person, there are no packing and shipping costs. There are no costs associated with operating a store i.e. heating, lighting, delivery costs, property taxes, and staff costs which typically add 30% to 40% to the cost of a product, if not more.
Pick up an magazine and a card will fall out offering a subscription at 40% or more discount, where do you think that 40% goes, it goes to the store.
The argument that books still have to be written and the author compensated is true and we are not debating that.
The scale of the compensation doesn't change whether it is an eBook or physical product. the fact is the work to author a book is the same, it all starts on pen and paper and MS Word. The final version is delivered to the publisher in the same format, an editable Word document. After it has arrived at the publisher editing and preparation for market is basically the same.
If a physical book is to be produced the files go to the presses, if it is an eBook, the files are PDFd and uploaded to the eCommerce engine.
I hate to say it but so long as people are prepared to buy into the argument that cheap eBook prices some how degrade the value of the author and how they are compensated they will remain more than the paper and publishers will take a bigger slice of the pie than they do with a paper book... eBooks priced they way this one is nothing more than a quick win for the publisher and lack of attention by the shopper.