They had models like the A55L (https://www.whathifi.com/reviews/sony-nw-a55l) which were more affordable, but the venn diagram of "cheap" and "niche audiophile gear" is two separate circles. Those who want nostalgia get iPods and mod them with SD cards and new batteries. Those who want Android and a headphone jack have older used phones or new budget ones (Moto g Power 2024 is US$129) and the market for cheap "nuggets" is not wide enough nor would there be enough margin to justify continued production.

That product category simply isn't worthwhile for big brands anymore.