Oh totally. And I can see why they'd want to keep the component count down. Their regular keyboard is $17, and the 4GB pi4 is $55. So if you just duct-taped the pi to the keyboard, you'd already be $2 (plus tape) over the RRP of the 400.
The bit I don't get is why use an ethernet transformer at all, especially if they're not reaping the benefit from it.