Remember back in like 2007 when people were saying this? The AR-15 was a $2,000 delicate toy, and the $350 AK imports we're being called cheap junk.
As the panic buying ended and economies of scale ramped up, new companies making AR-15 parts and rifles, the guys who had bought in at the two grand price point jealously thumbed their noses as the prices hit $1500, $1200, under 1k, when S&W and Ruger got in the market too and things started to dip under $800, and now here we are with $400 specials. And many of the same guys are still trashing those builds despite them being more than plenty for a day at the range or home defense.
Meanwhile with the AK, we saw sanctions on Russia stop the cheap Saiga $319 blank slates (oh how I miss those days) and then the VEPR. The import restrictions and lack of US tooling and mfgr let the AK somehow become the expensive toy.
The AK platform is all about reliability and durability at an inexpensive cost. This was a firearm designed in the Soviet Union for mass productions. I've changed the gas and sight blocks on AKs with a sledge hammer and a block of wood. I can convert a Saiga in my sleep. I do these things not because I'm some expert, it's because it really is that easy.
All it would take is a little supply and demand to make it worth it, and a company could certainly make money on a $400 AK. You can fold the receivers on a harbor freight press, it's not some special CNC mill. Just need some quality US barrel and trunions forged is the main obstacle.
If companies are making money on $400 ARs, which have more parts and require far more intricate tooling among much tighter tolerances, it can certainly be done with the much simpler AK.