The prices in the catalog have increased. Maybe Lionel did well to keep the prices as low as they did, as inflation as a whole has made making toys more expensive. The Producer Price Index (PPI) for construction for the 12 months ending October 2021 showed increases in price of:
Fabricated metal products: 38.8%
Iron and steel: 101.5%
Steel mill products: 141.6%
Nonferrous wire and cable: 31.3%
Crude petroleum: 116.9%
Natural gas: 231.3%
These increases might be lower overseas, but then you would need to add in the increased transportation cost.
If the price increases in this catalog do keep folks from buying, then Lionel will go bankrupt like 1,000s of other businesses.