Why Are Valorant Weapon Skins So Expensive?

Riot's shooter Valorant is a free-to-play group-based shooter with microtransactions. Said merchant items include ludicrously-priced skins, like this Elderflame weapon set. This costs about US$100 for the full 5-piece collection. The Nebula collection on our feature image bit costs US$70 or so. Why is Riot charging the equivalent of a digita...