Pretty much that. The toaster looks retro, but only because it was built before that type of product hit commodity market saturation and manufacturers realized

Pretty much that. The toaster looks retro, but only because it was built before that type of product hit commodity market saturation and manufacturers realized that cheap meant both better sales (and margins) and a built-in time lagged replacement market. The toaster-oven, with its newer features, had not the staying power.