Fuck you, asshat. You have no clue what you are talking about. And before anyone accuses me of a personal attack, saying that someone shouldn't pay more than a ridiculously low amount for a repair is the same as calling me a rip-off artist, which is a VERY personal attack in my book.
Doing it right takes about an hour, maybe a little less, maybe a little more. My shop rate is $80 an hour, and that only just barely covers my overhead (rent; insurance - you DO want your guitar insured while it is out of your hands, just in case something should happen, right? - HVAC; etc.) If you want a half-assed job, don't pay more than $50. If you want it done right, go to a good shop and find out what they will quote you. In my shop, it costs about $80, plus $8-10 for the bone blank. I don't know about anyone else's business model, but I couldn't do it for less without screwing over my employees, which I will NEVER do.
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"Cowards can never be moral."
M.K. Gandhi