Because it's super complicated and a thousand moving parts are involved. You have to parse HTML, draw everything correctly, do JavaScript, Canvases, WASM, Websockets, HTTP 1.0, 1.1, 2.0, SPDY, support 10 different image formats, 5 audio, 5 video formats, allow videoconferencing, write a plug-in system. Handle Bookmarks, History, File downloads, uploads, .... ..... ......
The standards alone are thousands of pages. You gotta read them all, understand them and program everything. Which takes years for a team of developers. And you also want it secure or your users get in all sorts of trouble. A browser is the number 1 way to get malware on your computer. And all these experts take a decent salary. Multiply that (hourly) wage with multiple people and several years and you'll end up with an expensive product.