The previous inkjet I owned for 10 years until eventually I gave it away to an elderly customer and got a new one with a few more features I needed. Most of my customers get >6 years out of a not-bottom-line Epson inkjet, so I beg to differ.
A reason why inkjet ink isn't the cost of buying a few felt tip pens is because in order to produce tiny enough droplets for photo quality it needs to be refined quite a bit. If it isn't refined enough it will probably block the print heads. It might well be over-priced (without knowing the costs of production it is difficult to tell), but you're exaggerating to the point of complete inaccuracy.
Also, check the page yields on the cheapest laser printers. I've seen some toner cartridges that officially quote less than a thousand sheets (while costing as much as a toner cartridge that is quoted to last >3000 pages), providing worse value for money than the cheapest, official and lowest capacity inkjet cartridges.
The bottom line of my advice is, go with recommendations based on what your projected usage of the printer is and examine the specs and page yield statistics of the consumables of the printer. There are long-lasting value-for-money printers out there, inkjet or laser, but the manufacturers aren't in the business of making it easy for you to pay them the least amount of money.
The other thing I wonder is whether climate is a factor in how well inkjets last. I've found that inkjet printers that are in direct sunlight at least some of the time are more likely to have problems, so I wonder whether countries that experience generally higher temperatures might have more inkjet problems. It is generally quite mild here.
For large amounts of regular printing (say >150 sheets / month) I would be more inclined to go for a laser because a lot of them are specifically designed for offices whose page yields are quoted in fractions of rainforests

Laser printers are also designed to be left on and regularly used so a lot of them take quite a while to warm up after being switched on, way longer than a typical inkjet, as well as using quite a bit more power when printing (a printer I just looked up is quoted to use 300-900W while printing).
People also make silly mistakes with inkjets, such as "inkjet cartridges cost too much, I'm going to get a few of these really cheap ones... hey, my printer stopped working... inkjet printers suck!", or leaving them for months unused, or buying the cheapest printer they can find with the lowest capacity cartridges then complain about the cost of cartridges, or complain that their printer died within three years.