They have (somewhere), but even more interesting is that they are kind of treating this in a sort of open source manner. They either plan to (or already have) publish the recipe. It's not going to be a trade secret, and they expect competition. The kickstarter they did basically gives them enough funds to establish supply lines and produce a viable product. Any real competition would have to jump through similar hoops, and that takes time. One of their goals is to make the product ubiquitous ('like coffee'), so as long as they're making money, they don't care if they're even the market leader. Of course, for the short term, they will be.
To that end, Soylent has a DIY section where people have contributed recipes so you can make soylent yourself, often with a button to add all the ingredients into your amazon cart.
The thing to remember that when you DIY, you're buying the ingredients in bulk and it seems expensive. Take for example the [QuidNYC's Superfood for him](http://diy.soylent.me/recipes/quidnycs-superfood-for-him) which will cost you $437 up front, but gives you an ~80 day supply, so it really comes down to $5.50/day. Also, if you compare that to the Soylent campaign prices, it's $255 for a 1 month supply, or $130 for a 2 week supply. There's no real "trial size" at this point, so it's rather difficult to try a bunch of recipes and see what you like.
Low cost hinges on scaling up (and hopefully also being less strict about pseudo-"hypo-allergenic" properties).
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