If you try it at home you'll realise combining milk, butter and sugar in a bowl doesn't create ice cream. And when you figure out how to create ice cream you'll realise moving said ice cream to a place where you can sell it requires extra steps too

Labor costs have risen. There are other inputs than a handful of raw materials.

Even if ice cream is lower, if the price of staples is going up you have to make cuts elsewhere.

Maybe the milk and butter were local while the ice cream was imported and hit with tariffs?

Does ice cream need to be affordable to 100% of US households, regardless of their other budgeting decisions?

That's the implication of your comment.

First, I think you're probably right that ice cream is priced too high compared to its inputs.

But maybe there are other factors? What about energy? One would assume that ice cream has a higher energy requirement than other "treat" style products? Are there specific tariff impacts on ice cream manufacturing equipment?

Ice cream is being priced too high if the ice cream sellers would make more money by decreasing the price of ice cream. If they wouldn't, it is appropriately priced.

Or, from the buyer's perspective, it is priced appropriately if the total amount buyers would spend on it would go down if the price is lowered or raised.

There isn't a correct intrinsic price that an object should be sold at that can be calculated based on the ingredients and labor. That idea is one of the fundamental flaws of Marxism. Price is a compromise between the buyers and sellers, based on the values of each.

it may be that the costs of labor, distribution, and manufacture (for various reasons) have been increased

Could be. But also, ice cream manufacturers buy their ingredients more cheaply than consumers do. It is very possible that the cost of milk/butter/sugar at Walmart reflect Walmart deciding to lower their profit margins on these items, even if the cost to Walmart has increased.

Or - Walmart is a big enough supplier that they have stable contracts with manufacturers, and are able to purchase their ingredients for the same cost as always, while Turkey Hill et al is competing over what's left. (Like Apple, buying up TSMC runs.)