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For 99% of people it won't be a matter of cost, it'll be a matter of how the car drives.
As others said, most of us could probably get an M4 but chose the M2 because it's just a different experience. In addition, the M2 comes with all the options - an M4 with all the options too will cost WAY more than $70K.
At the end of the day, the M2 is a niche car aimed at a market of enthusiasts who know exactly what they want from a car - the right amount of power, balance and agility.
The M4 is a bathtub on crack.
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