At the time Element 14 were paying HUGE money to a production company to edit each video, you'd be shocked at how much.
Since the quality, format, and lengths of the videos remained the same, and not much has changed - not sure if that is true. If that "production company" was doing anything, it wasn't much. Maybe there was a middle man producer in there sucking up some dough.
Coming from the video production world, as I have, I've been the director for $25k projects for 15 mins of a talking heads, multiple cams, and good audio - it's not out of line at all. But with that, you get a lot more then just a point-and-shoot video.
Dave, the saying you're looking for is "Content is King" - so if you can make that content with a sub $2k camera and a workbench, then you're golden. Spending 20k a video won't help you much - if at all. But on the other hand, say you want to make a documentary that is 15 mins long, and you need to hire a company to do it, yea, $25k is the staring point.
With that said, there is a place for well produced videos of (mechanical and electrical) engineering. No one has tapped that market yet. Mythbusters was kinda close. "Prototype This", got even closer.