Agree with the outrageous cost. The City of Phoenix has awarded Bombardier Transportation a $305 million contract to extend it's existing system 2.5 miles to the airport’s rental car center, build two new stations, expand the existing maintenance facilities and supply an extra 24 Innovia APM 200 vehicles.
Phoenix Sky Harbor Airport’s automated people mover set for extension
Of course costs are much higher in California with required union labor, environmental permits, etc. I saw one estimate that 40 percent of a new home's cost are environmental and other regulations.