Every port has 2 costs associated with it: port itself and optical pluggable. Historically, the proportion was even bigger than 10:1, but optical people did manage to preserve their margin better.
I did not try to calculate for a couple of years, but before the cost of a router port was comparable to single-mode pluggable, multi-mode was cheaper, and copper was even cheaper.
(it was funny to see that a discount was asked from the networking vendor, but the biggest payment was going to the optical vendor, especially for switches)
2 hops though CLOS architecture is 4 ports and 4 pluggables – all are typically (in Telco) single-mode for unification.
In the case of a chassis, the cross-bar is electrical and costs very little money.
Actually, the chassis-based router has 4 ports too on the traffic path, but single-mode pluggable is only on external ports, internal ports are cost-compared to copper pluggable.
Hence, the chassis-based router has a natural advantage: less cost on SFP/QSFP/etc. Strictly speaking, pluggable is not a networking vendor’s business, especially for new high-speed interfaces.
The actual situation is that pizza-box (even from a respected vendor, where all features are available) is cheaper than chassis-based (per port) is attributed to non-technical reasons, primarily bigger competition.
Pay attention that “Modern Switch” is just a package for “Optical Pluggables”.
Hence, DC people are making very strange designs (with a lot of compromises, typically oversubscription) to downgrade multi-mode pluggable to copper pluggable. Then claim it as a big achievement. The money is there.
PS: I agree (with Tom) that the feature list is important even for the pizza box.
Eduard