I feel compelled to explain one element of the cost picture that perhaps is being missed in this discussion.
Folk use shotguns to hunt, to practice at the range, to participate in shooting games, and for SD/HD. Each of these uses can potentially dictate a different shotgun configuration, and it's not uncommon for folk to have a dedicated hunting/range gun and a separate gaming gun and a separate SD/HD gun. Some folk even like to have multiples for each use, since things tend to break under stress and having a spare can be handy at best and life-saving at worst. Further, some folk believe that there is value in ensuring that this lineup of shotguns all use similar manuals-of-arms, to ensure that the muscle memory needed to operate them under duress is ingrained during every single outing regardless of intent (hunting, gaming, SD, etc.).
So the cost savings between a pumpgun and a semiauto gun isn't just restricted to a singular arm, unless you're willing to run one gun for everything or willing to use different guns and different manuals of arms for each.
For folk that value an approach that includes multiple shotguns and who want them all to be the same (or highly similar), the cost savings of a pumpgun can make the difference between being able to implement the intended approach or not.