You're missing my point... my point is that with the Raptor, what you're paying for at the base price are those things that come standard on the Raptor that aren't even available on the Hyundai and Kia that you mentioned.
As for the Raptor no longer being the performance truck bargain that it used to be, you're absolutely right; now it is a more complete product. Even the best iterations of the Gen I (the 6.2L trucks) took an existing motor/transmission that was available in the F250, coupled that with an existing frame from the F150, created some application-specific body panels, and hung some application-specific suspension off of it. While they're certainly great trucks, they were derivative in nature (in that they were largely derived from existing products).
By comparison, the G2 has had a LOT more application-specific engineering that went into it; it has an application-specific motor, an application-specific motor/trans calibration, and an application-specific frame in addition to the application-specific things that were present on the G1 (the suspension and body panels). The development of those application-specific things takes time/costs money... and results in a more refined overall product.
For a similar comparison, look at the Mustang GT. Back in the day, it was entirely possible to get a pretty nicely optioned GT Fox body and still come in under $20k. Why, then, do they now start at $33k? Well, they no longer share a chassis with a Fairmont, for one... and it shows. The overall Mustang driving experience is now MUCH more refined than it used to be. Smoother ride, better handling, less NVH, more power, better mileage, better safety, more features... more money. It's an all-around superior product. Has the higher price kept some people out of Mustang GTs? I'm sure it has... however, there are still plenty of people buying them (and those people are getting a superior product by comparison), so was it really the wrong direction to go?