Let's see, shall we.
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It's 2.5 times more expensive, not 2.0 times. The horror.
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That fad will soon die out, I'm sure.
LOLOLOLOL
I found 9mm for under 23 cents/rd and 5.7 for 53 cents/rd, so there are better prices, but the reality is you will always be paying double for 5.7 vs 9mm.
I'm not against paying more for a caliber if it offers me something significant in return. I'm a .32 fan, During pre-Covid times I found it's worth the extra cost over .380 in an LCP size pistol because I can shoot it better and in those small pistols I don't shoot them much, a few times a year to stay loose, so the cost is negligible. Even still, I reload it if I want to, but my argument here is going to be around factory only ammo costs.
There are some advantageous with 5.7 given it's a light ammo, low recoil which means proficiency can be obtained with less practice, which is good because at the costs of the ammo you won't want to be shooting it that much. The drawbacks are all 5.7's are full size pistols, there are no P365 style compacts and that makes the 5.7 a useless CCW caliber.
Beyond that 5.7 is a nightmare to reload.
5.7 is a fad the industry is chasing. The gun makers need to make new products to generate sales and 5.7 is unique enough to generate attention, but even with all the new guns in 5.7, has the ammo industry started cranking up production? No, it's still the same handful of non-boutique companies making it in Federal, Fiocchi, and FN. Until that changes, 5.7x$28 a box will continue to be the norm.