I know the cap isn't just a plain hollow plastic dome but shaped inside to protect the Lightning connector component and there's a magnet too inside it seems, but $27 does seem a bit much. I suppose the Pencil isn't manufactured in great enough quantity right now either to have extra production runs for inventory of parts.
With the connector so exposed without it though it's definitely something you would want to keep protected when not in charging mode. Glad I bought Cozy's PencilCozy tethered device so at least I don't loose mine. Apparently well worth the few dollars it cost for the Cozy if that's the replacement cost of the cap!
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Bought the PencilCozy along with the Pencil lightning adapter (another easily misplaced or lost piece) for $9.99 for the combo pack. You can buy it separately for 7.99 (or maybe less on Amazon) but for an extra $2, the direct from the manufacturer combo seemed like the best deal. Cheap first class shipping in padded envelope too which was appreciated and keeps cost down.
https://cozy-industries.com/collections/frontpage/products/pencilcozy-combo-pack
I ordered on of these after seeing your post the other day.
It arrived this morning, but guess what happened yesterday?
Yep, that's right, I lost the Pencil cap.
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[Edit]I'm on hold with Apple Support in Ireland now.
I'm the 1st person who's rung requesting a new cap, so the chap is working a little blind, but is definitely trying his best for me.
[Edit 2] - Just off the phone with him.
He was really good, he kept going away and coming back and going away again to do more digging, then eventually we had to look at the serial number on the pencil and he then found the cap as a part number.
The best part of all is that he thanked me for my patience and for holding on and said that he will send me a new cap free of charge.