Depending on the size of the manufacturer, they're getting Windows for pennies on the dollar. Dell and HP are probably paying something like $10 a license instead of $100+
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Asus gives a reimbursement between 9 and 65 euros, depending on the Windows version.
So if the numbers reflect what the manufacturer pays, you're right. The "Home Edition" currently costs 145 € at M$ and Pro 259 €. That's 94 % and 75 % discount respectively (or 50 % and 62 € discount extra).
I heard about a company that sold laptops with Linux installed instead of Windows and I checked it out, expecting it to be a couple hundred dollars cheaper for a comparable machine, on account of not having to pay Microsoft a license fee. But actually if anything they were more expensive, so I was disappointed.
I think Dell and Lenovo offer laptops with Ubuntu
Preloaded with Mx Linux: https://us.starlabs.systems/?shpxid=03ed0b64-1e49-4b1c-afc0-5b0e23936b9d
Preloaded with Pop! OS: https://system76.com/laptops
There are many more. Go to distrowatch or search distros by name and you'll find have a link on their site to computers with their system preloaded.