I think the problem is there are a lot of "inexpensive" 1911's made by companies that just simply don't work. So it creates a higher percentage of guns that don't run, vs one's that do. And because 90% of people don't run them hot and dirty - It goes unnoticed.
So, people who DO like to get their guns hot and dirty have to go the expensive route. Because these companies are few and far between (And usually backlogged) there is no reason to lower prices.
A 1911 will never be as inexpensive as a glock, just due to the basic number of parts alone.
The only real "MECHANICAL" disadvantage to a 1911 is the low capacity. The talk about "Modern machining not lending itself to the design" is hogwash in my ears.
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