I have troubles calling something a "cash grab" when it's been arguably the single most influential project in the hacker/maker/DIY electronics space.
I don't doubt the boards could've been sold cheaper, but they clearly were doing something right given how much it changed the hobbyist landscape
Great businesses can still be cash grabs. In fact, many of them are. Very few of those dress themselves up as a nonprofit (aside from Arduino and OpenAI).