Yes because half a pound of cheap chocolate (toffee) costs the same to produce , license and market as a billion dollar earning superhero Blu Ray Disc.
Steelbooks are just packaging, I doubt they add very much to the cost of production of the overall release.
The price is set by Disney (not known as the most generous of corporations) Based on what they think they can charge. It is further discounted by Zavvi. What was the wholesale price of this release , it's usually around 50% of rrp, but in negotiating for an exclusive Zavvi probably had to pay a slightly higher price (also limiting the UK run - though it appears to part of the global run) . Disney also chose the art, a global print run is cheaper for them. Disney don't like the idea of a profitable 2nd hand market (they make nothing from it) so charge a premium for the first release
But of course why do Disney & Zavvi think they can charge this amount ? Because of places like this. 60 plus pages of people posting about a release before it gets officially announced , whether negative or not shows interest. Constant postings about print runs, who will order , who won't , will it be valuable (on this and other threads) means that companies like Disney & Zavvi can see a profit. Of course how dare a shop charge a high price for something you want , or Disney release something you want with a pretty wrapper that you actually want more than the contents.
Not saying any of this is right or proper
1st post, good start eh ?