Actually, there is a lot of accommodation here:
Potshot: backpackers(dorms, doubles & singles), budget hotel rooms, standard hotel rooms, self contained apartments and self contained multi bedroom apartments
SeaBreeze: hotel rooms (located about a six minute drive north of the townsite)
Novotel: 4* accommodation from hotel rooms to self contained apartments; right on the beach
Ningaloo Lodge: hotel rooms more on the budget end; recently refurb'd
Two other backpacker style accommodations
Ningaloo Caravan Park: camping, RVs and self contained chalets (mini villas!)
Lighthouse Caravan Park: camping, RVs and self contained chalets (larger than NCPs and overlooking the ocean, high up on the hill)
Real estate agents: all have holiday homes for rent (there's also a holiday homes rental agent but I can't remember who they are, sorry)
There are multiple restaurants ranging from pretty reasonable to really high. Two supermarkets, a bakery and a butcher if you want to DIY.
You don't need a 4WD to access anything from Exmouth, really. A normal car will get you to any beach and you can do the whole national park & canyons without one.
Diving tour prices haven't significantly risen in five+ years. Yes, the Pier is available only through one operator - can't remember what their minimum numbers are. Night dives are only available at certain times of the month due to tides, so make sure to plan ahead if they are important to you.
A don't miss is Bird's Eye View mircolight flight over the range & ocean. I just did this the other day and it was phenomenal!
As has been said before, this is not the cheapest destination by any stretch of the imagination, but just plan accordingly (and give yourself a bit of time once you're here - don't rush your stay since you've come so far!)