How is this game still 26 dollars..

The game is relatively cheap for how it is constantly expanding and becoming more immersive.
Looking at the game, they're even expanding it to have more features underwater in 1.13. That's not something that they can obtain from thin air
Not to mention, it's a one-time purchase with no additional purchases anywhere. You can even change your name for free, where in games like League of Legends it costs a fair amount of money.
No skins, no "loot boxes." I'd say it's pretty fair