From a tech standpoint, there are a bunch of reasons as some have stated above. Between the HP and Epson heads, the Epson solvent heads last much longer. Since HP uses heat to push ink out of the nozzles, it causes many cycles of expansion and contraction which deteriorates the physical structure of the small head mechanisms over time. The Epsons use piezo crystals that vibrate to shoot the ink out of the nozzles which causes less damage per cycle. They both have advantages and disadvantages. While some with the HP machines would say the user changeability and cheap cost of the HP heads has worked well for them, the guy with the Epson head that lasted 10+ years would say the same. Although the guy who only gets a year out of an Epson head for whatever reason would beg to differ (cough cough Chinese dye sub inks).
As others have stated above, there are of course economic reasons as well. The reason you used to be able to take a DX5 head out of a Epson 4800 or R1800, and change the manifold to a solvent one for much cheaper than buying one from a manufacturer is because Epson's business model for the desktop models is to sell the printer at cost or a loss and then make the profit on the ink. With the solvent DX5s, Manufacturers like Mimaki, Mutoh, and Roland licensed the Epson head to use in their printers. In that case, Epson is much more motivated to raise the price. Sort of like the NFL wanting 30% of your revenue if you license their IP. So when buying the same head from a manufacturer, the price is higher. We also pay higher prices just for being in America because of all the middlemen. For example, Mimaki Japan will buy the heads from Epson, sell them to Mimaki America at a markup, then Mimaki America sells them to the dealer at a markup, and then it's finally sold to you at a markup. It's the same with Mutoh and Roland. So I would agree with the above that the head price is inflated for reasons that have nothing to do with the value of the technology of the head itself. That being said, if you want a warranty on your printhead, the only place to get one is at full price from the manufacturer and installed by one of their techs so you have to take that into consideration as well.