It's lot more about operational costs and project deliverables than plain sticker shock, and it is turning out to be a capable platform.
Same for me. I was surprised to hear that it actually competes favorably on price. And aside from early griping that it couldn't beat an ancient F-16 in a dogfight, it seems pretty capable in that regard too. Saw a demo at the last airshow I went to and that plane was defying physics. I love the 16, always will, but I definitely don't think it would hang with an F-35.
I wonder if the flight hour cost of F 35 includes the maintenance it's undergoing when it's not available.
Putting aside the export market, it's a small miracle that the F-35 turned out as well as it did. Having a mostly-common fighter airframe shared between the Navy, Marines and Air Force was a pipe dream in the 90s. America is lucky the program didn't collapse entirely.