They lost a lot of money at first because they were building a brand. It takes a long time to make a dent in a marketplace with powerful established companies but they did so over time they'll be reaping pretty huge rewards.
Keep in mind things when it comes to hardware and accessories. Those definitely have costs associated with them.
Let's take your controller example. A controller has parts that are required to make them. Then there is an employee who assembles them and packages them.
Then it is sold at a wholesale rate to retailers such as Gamestop, Best Buy, Walmart, Amazon, etc. So the retailer takes a cut of that price. And also don't forget that the controller has to be delivered to the store as well. So they need to ship it or transport it somehow. That's another person who needs to be paid, plus cost of the delivery trucks and gas to run them.
Then after the controller is sold, there is also support for the device. If it has problems you have an option to call or chat for support. Or set up a replacement on the website. It costs to provide those options. Then if the controller is under warranty, it has to be replaced for no charge. Obviously not every controller will have to be replaced for free, but it does happen so that has a cost associated to it. Also there is a cost associated if the customer returns a broken controller to the store. The store usually will send it back as damaged merchandise.
So yeah, they will make money, but it isn't going to be around $50 per controller. Probably will end up being something more like less than $10 per controller.