The K-1 is already amazingly affordable - its price being lower than the launch price of the D610 and 6D. Only the Sony A7 and A7II were slightly cheaper, and those are mirrorless cameras.
Oh, yes, the street prices are lower; but that's because the 6D is more than 4 years old, and the D610 itself is a slight alteration of a more than 4 years old camera. Ask Pentax to match those prices... in 2020
Another thing - lower prices are a combination of cost cutting and volume. Pentax could do some cost cutting (the less reliable aperture mechanism from the K-50 is an example
), but they don't have the volume. And no, volume won't magically appear just by selling cheaper; actually they tried that strategy in the past and it failed (or should I say, backfired?).
But let's assume Ricoh Imaging would be able to make a FF DSLR with significantly reduced feature set which is ~200$ cheaper. All that effort for a mere ~10% and the product still won't be as cheap as the 4 years old competing models, or second hand, or grey market, or stolen merchandise (you can always get "cheaper" if that's the only criteria you're pursuing). It doesn't sounds so tempting now