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Paper books are going to die
Most commercial ebooks are distributed under a far more restrictive license than paper books. Paper books can be lent, resold, kept and re-read without any cooperation from the original publisher or distributor.
These prices will come down as authors realise selling 1 000 000 000 books for $.5 is a lot more profitable than selling 10 000 for $15, so it's not an argument against.