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I was hoping to see a much cheaper alternatives (say $20-30) but is yet to happen. After all its a fairly simple hardware with a tiny bit of RF.

But maybe discussion about banning it will push creation of some alternatives?

Seems to be happening already yes:

I've seen that one. Better than nothing, although 119 feels still a bit too high for a $30 BOM.

What do we know about the company behind this?