Designing and creating a product and actually getting it to the marketplace is an expensive business and I suspect that is reflected in the price of this item.
However, researching the market for your product is both free and priceless at the same time.
I suspect that, unless Australians have become suddenly a lot less forthright than their reputation suggests, this is a product with very little research into the potential market.
Seriously, this is the a product from the country that gave us the Hill's Hoist - who the hell is going to pay good money for a piece of free standing plastic when they probably already have the perfect hanger in their back yard that only requires some sturdy pegs and maybe a clothes hanger or two to put scuba gear on?