That was when a color TV cost $450. Today, that would be $1300 or so. Everyone who wants to pay that much for a TV, raise your hands.
So how much labor per TV do you think it takes to make one? I guess 1 man-hour. Even if mad in the USA that would add only $30.00 per set. On a $500.00 TV that isn’t unreasonable. At least to me. Call it keep America from becoming the third world tax.
About 1974 I bought my first color TV — 19” RCA portable. It cost $500.
In 2008 I bought my first widescreen LCD — 32” VIZIO. It cost $750.
I have been checking prices on 50” 1080p and 4k TVs. They cost between $400 and $600 for several VIZIO models. Other brands are in the $300 range and the upper end TVs are in the $800 range.