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The batteries aren't cheap. That's still the expensive part of an EV, even though it's nowhere near as expensive as it used to be.
But overall, the same issue plagues all new cars. There have been very few great innovations in the last decade or so, so now they just have to cram more techy tech into cars to get people to buy a new one. I mean no real innovations aside from the electrification itself of course.
Go look at high-end cars in 2016. Carplay/Android Auto was already a thing, though optional in most cars, and not available in all yet. Safety features like automatic braking, adaptive cruise, lane keep assist were already available. Massage seats were old news. There was just nothing new to add to a car to differentiate it from others. Tesla had just come along a few years ago with a slick UI and over the air updates, and people were blown away with it. What do you do? You start imitating the success of Tesla, going too far (too much tech) instead of integrating only the good things (actually responsive screen, for example).
Hell, I maintain that you can get 90% of what you'd ever want from a car, if you're willing to own ICE, from a well-equipped 2005-2013 Mercedes S-Class by upgrading it with a AA/Carplay module. There's little in its 2014-2020 successor that makes it truly a better car - only a slightly nicer infotainment system, better transmission (even that only in the facelift) and different (some better, some worse) engine options. So in 2020, with the new model, they went crazy with screens, making the interior actually uglier than the old ones. The electric equivalent, EQS, was even more screen-focused, only because it came out a year or 2 later, not because it's electric.
Once we get to cheaper cars, however, it's even harder to add any real new innovations. MB's Magic body control (camera controlled hydraulic suspension that knows when to soften up for a pothole) is super expensive. 4 wheel steering is expensive. A large touchscreen is not expensive. A sim card for online services is not expensive.
2012 wants it's comment back.
A 50kwhr pack now costs $4000 and dropping.