For an advanced course that is how the economics works out. They are expensive to produce and have limited demand, and typically only for a few years until they are replaced.
Yes, but this is intentional, and that's what's out of line. The main content stays the same but exercises and case studies are rotated out to force an upgrade.
The business strategy class I took in college in Ireland used the same book for two or three years, even though the book was reshuffled every year, just to enable some spreading of the financial burden on students.
At least in some fields, advanced courses are the most likely to have lower cost textbooks. Real analysis textbooks are usually cheaper than calculus textbooks. It's the introductory courses that tend to have $200 behemoths attached to online homework platforms optimized for ease of grading rather than student learning.
The business strategy class I took in college in Ireland used the same book for two or three years, even though the book was reshuffled every year, just to enable some spreading of the financial burden on students.