No they don't -- and if forty years of evidence to the contrary in the computer industry doesn't make you see that, nothing will.
NVidia has 13,000+ employees, with a combined annual salary of several billion dollars. None of those employees, I point out, actually manufacture these graphics chips, they simply design them, market them, and write drivers for them. Those salaries have to be amortized into the cost of these boards. You think the measly margins on low-end cards will cover those billions of dollars spent every year? Bleeding-edge products provide an outsized share of financing the R&D for new technology.
So you want ridiculously expensive products, you simply don't want to pay for them? Hey, I have an idea. Have the government place a maximum price of $500 on all graphics cards. Or why not $100? Then everyone can afford the latest and greatest technology, right?
If it didn't have those limits, why would anyone buy a Titan or Quadro? And, if they didn't buy those cards, NVidia would be forced to charge gamers an even higher percentage of their R&D costs, and you'd pay even more. So don't criticize the existence of these cards. Be thankful for them.