I wouldn't doubt it for a second. Printer makers use the razor/razorblade model for consumables, where the printer's dirt cheap, but the ink costs an arm and a leg. This is just the latest tactic for getting people to go OEM only.
At this point, I long for the good old days, when Canon embraced 3rd party ink vendors. Canon's cartridges were cheap because the print heads were a separate, replaceable, item, and the third parties were more than free to put out really interesting inks, like sets of greyscale for making really nice black and white prints.
I haven't really thought about it recently, but (parts of) Asia seems to have this whole printer ink thing figured out. Just about every printer I see in Thailand has the tubes coming out which go to bottles similar to this [1]. There are little refill stations in malls, and that seems to be the standard. No overpriced OEM cartridges, just a straight ink reservoir.
I never understood the razor/razorblade analogy. A razor handle without a blade is just a shaped bit of plastic or metal, without any working or moving parts. The precision engineering is all in the blade. It'd be weird if the handle wasn't cheap and the blades more expensive.
But a printer really is a non-trivial set of electronics and working parts, so it is more surprising that they're so cheap.
As another poster points out, modern blades are different than older style blades where the blade was just a thin piece of sharp metal. I have one from my great grandfather... the blades are the definitely the cheap, disposable part. That's the model which the idea refers to.
Razor/razor blade is a marketing strategy. Sell/give the base at a low or free cost, and make the money on selling the consumables at a significant markup. The razor itself also has to be engineered for durability, with springs, latches, etc. While it's a comparatively simple part, it needs to be rugged to last a few years in a moisture filled environment where it's liable to be dropped and otherwise abused.
Similarly, the print heads are the precision part in a printer. Drive components in the printer itself -- motor, the belts, rollers, etc, are all pretty cheap and easy at this point; the same print engine will be used over several series of printers. The print heads on the other hand, have piezoelectric parts and/or heat elements that have to be very quick and accurate to do a good job. Both cases, while there is definitely some engineering in them, it doesn't rise to the cost levels we see them being sold at.
That's because you've probably grown up under this regime. Older style razors are the opposite.
My dad has probably spent $100 in shaving supplies over the last 30 years. I got suckered into Gillette and could probably buy a Honda Accord for the money I've dumped into this crap.
Change that today! /r/wicked_edge You don't have to use the fancy soaps / brushes to wet shave, but they do help. Buy a handle (~$25) and blades are dirt cheap QTY 100 for ~$12 - 20.
Safety razors are very cheap. I believe the OP is referring to the profit model of companies like Gillette, extracting larger margins on a more consistent basis in trade for a marginal amount of ease of use for the consumer.
At this point, I long for the good old days, when Canon embraced 3rd party ink vendors. Canon's cartridges were cheap because the print heads were a separate, replaceable, item, and the third parties were more than free to put out really interesting inks, like sets of greyscale for making really nice black and white prints.