I don't think you can make a judgement on someone's electrical/electronics skill level without personally knowing him. And yours would be better than his? Really? What's going on with you guys? Regressing back to grade school now? I don't think it's too far a stretch to think a guy could make one of these and be safe enough using it in his personal shop if he had the skill and knowledge to be able to make it. Would I want lowest common denominator employees using one? Quite likely not.
Whether a torch will remove a small steel tool from a shrink holder is probably very greatly dependent on the torch in question. If it's a ring oxy/acetylene torch, I bet it sure would. It's just a matter of getting that heat in fast enough to create a temperature differential from the outside of the material to the inside so that it pulls the bore open before much heat transfers to the tool shank. Probably a pretty narrow time window before conduction screws that up, too.
In this case? Yes.
I've spent the past twenty years designing and manufacturing power control circuitry specifically for heating. I have some patents on the same. I've made about three million heater controllers. I am on one of the standards technical panels at UL.
He might be great at rigging some stuff up. If I made one, mine would be better. I don't need to know him to say that.
In this case, and this case only, this is one of those "my expertise is actually better than your ignorance" situations.
He asked why these things were expensive. I gave him the business case for why. I never said he couldn't bodge something together. I hope he does, I love bodged together stuff.
I also know the difference between a proof of concept/in house tool and a tool sold commercially.