Why is neon so expensive?

I've been wondering, why is neon so expensive? It seems like an interesting element with a lot of potential applications, but the price tag is quite steep. Is it due to limited availability? Or is there something special about the production process that drives up the cost? Could it be that the demand for neon simply outstrips the supply? I'd love to hear your thoughts on this, and if there are any other factors at play that contribute to the high price of neon.