There are a few reasons that REAPER is only $60. One of them is the obvious one. They only include staple plugins, and nothing at all 3rd party. Initially I thought the included plugins were basic, because well, they *look* pretty basic, but I kept reading people raving about them in the REAPER forum, so I eventually gave them a fair evaluation. The EQ with spectrum display was the first one I really started using on a regular basis, but as time went by I found that the compressor, multi-band compressor, gate, convolution reverb and others were much higher quality than their deceptive look would have you believe.
A second reason that REAPER is so inexpensive is that the company Cockos who makes it, do no advertising, have no marketing department coming up with cool names for things like "Blast Off 64". The names their plugins get are lame and boring, like ReaComp and ReaEQ. Nobody got a big paycheck coming up with those names! Basically, their overhead costs are extremely low, so they can stay in business without charging more for their software.
I know there have been some folks on the main Sonar forum who have claimed that Cockos can do what they do because the founder, "Justin Frankel" is a sooper millionaire from back when he wrote "Winamp" and it became wildly popular, finally selling it to AOL for millions of dollars, but that really isn't the case. When Justin first had Winamp out, it was based on the very same sales model. Download it, use it, pay a very small fee to keep using it, although it won't quit working even if you don't, but will tell you that you really should pay for it. That model of fair pricing rapidly turned Winamp's modest $10 donation fee for a legit license into a $10,000 per month income for him. REAPER is based on that very same fair price model. If you are using the software in a professional environment AND grossing $20,000 or more per year, then REAPER is $250, but if you are grossing less than $20,000 per year, even if you use it in a professional environment, then you only have to pay $60 for a legit license, just like someone using it totally for their own enjoyment.
The last reason that REAPER is only $60 (or $250 if commercial license) is that Justin wants to get the software in as many people's hands as possible, not because he wants to make a killing in profits, but because he wants the world to have high quality software in which people can create music with. He doesn't need the money, but does have some payroll to meet with guys like Schwa, so his goal is to make REAPER sustainable, but not compromised by profit goals. He uses the software himself and sometimes posts bizarre things you can do with it, that you would never think a DAW could do, and both he and Schwa are very hands on with the forum and the general direction of REAPER.
The company mission statement pretty much sums it up.
https://www.cockos.com/index.php