Cost of developing 1 hour of elearning

Yes, I think that "it depends" statement captures fairly accurately. It comes down to expectations. Complex media requires complex design specialization and specialized development labor. That's expensive no matter which way you slice it.

I think the problem is in packaging expectations and the lack of granularity to most statements of work. In many cases you can spend a little on some highlights and get a lot of mileage out of those AND the rest of your design package. Too often projects are scoped in one hour increments. I always say "part task is powerful", focus on the elements that will give you the greatest gains first. If everything else falls away you still have the powerful stuff.

I work for government so I have that expectation framing. But I also work independently as a consultant. The price range difference is staggering, in my opinion. My rates are significantly lower and my work quality is generally higher than many of the contract providers I've worked with. But I also bite off smaller pieces. Usually much smaller and normally specialized outputs. My point is I don't think the value is often there for many of the deliveries that people pay for (this isn't always true, I've seen some really kick ass stuff do some really kick ass stuff).

I tend to view my independent work rates sort of like an auto mechanic would. I have an hourly rate that flexes a little based on the complexity of the output. I know how long it will take to do X. So I can quote a firm fixed bracket based on a set of assumptions. I like to keep the modules small and tuned around a measurable skill change. A 15-20 minute module could cost between 2k and 4.5k depending on the types, quality, and quantity of media. I'll usually build Level II IMI with some Level 3 highlights, content chains, or assessment chains. This is on the low side of my industry estimator. But I don't really have much overhead.