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It's called supply and demand.
Then I demand more supply! 
$520 for a $150 item is called extortion where I come from. (And, believe me, there are plenty of thieves, convicted felons and pickpockets in the local governments!) These are not 'precious' gems, they are electronics items.
$150 + shipping would be a no brainer but not over $500 for an item with no support available, much less a warranty! I'm not looking to be on "Antiques Roadshow / Electronics Edition" in 10 years!
Even if it is in HD3D!
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And, who would you choose to nominate...as Czar of iSight Sales?
Why, me, of course! But I'd be glad to appoint some of my friends and relatives to many, high-paying, with little oversight, 'consulting' positions...
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...free market
Oh, I'm not asking for anything to be free, I'm more than willing to pay a reasonable price. Even original plus inflation rate in 4 years. I just think a 346% increase is a little steep. 
Of course, there does seem to be some downward pressure on these sellers. Amazon lists four 'offers'. Three are from the same vendor. Two of those are ~$520. But he almost matches the only other vendors offering at ~$517 versus the single offer at $516.99! That difference will almost buy a gallon of gas!