Re: Cost Analysis
Speaking as someone who isn't an academic and did some of that work for a publisher once upon a time in my life, your description does not accurately describe the process. There's no way they are requiring you to submit it in "publication ready format" because that would require everyone in academia to own a copy of PageMaker, Ventura, Quark, and maybe one or two other programs. What they are requiring is something formatted to look like what will eventually be published so when they're done reworking it, they have something to match it against.
Next, some journals may only do cursory editing others do extensive, particularly for non-native speakers. In our case in addition to the reviewers we usually had 3 or 4 editor/proofreaders (hourly part time) who were assigned articles, they came back to us were reviewed either by the senior or assistant editor (both full time employees at the publisher), and finally went to either me or my assistant for correction and formatting in the publication program. While my salary didn't make me rich, I wasn't exactly cheap either. I expect most of the rest of the staff made more than me.
Finally, we need to deal with your throw-away greed line: they bundle it with less popular journals to hide the price. No, they've adapted to the socialist model academics prefer: they subsidize the cost of equally critical journals that don't have sufficient circulation to break even, or support other work the organization was doing [in my case we were a 501(c)3 corporation supporting scientific research in testing methodology assurance].
Now maybe Elsevier deserve a boycott because they are making obscene amounts of money, I haven't looked at their last quarterly report. But I given my experience, I doubt it. Probably just keeping their heads above water wondering how they are going to still be a going concern 3 years from now, and that was before the boycott. Chances are you'll only find out how truly critical they were after they go bankrupt and things that use to be easily available to you cease to be.