A couple things have changed, things that aren't evident at first glance:
Schools are forced to provide more these days . . . with less money. Today we expect schools to have multiple computer labs, access to iPads in the classroom, etc. Busses cost more. SmartBoards are expected in every classroom now. Special ed costs are through the roof. Gas for the driver's ed cars is more expensive. To put that into perspective, when I was a kid, we didn't even have a telephone in the classroom: Just one in the office. Those things cost money. Money that use to go to classroom supplies. With less money, schools need parents to provide certain necessities -- or the kids will go without.
We never really bought "whatever we wanted" when we were in school. Rather, the teacher said, "You need a 3" binder notebook", and we bought a 3" binder notebook. Yes, we chose the plain pink cheap version or the expensive notebook with a screen print puppy on the front, but it was the same thing. A month later the teacher said, "You need to make a poster", and we bought a piece of poster board or (as was more likely in my house) scrounged some cardboard. It didn't seem like all that much because we bought it bit by bit. Today, as it's all listed on one page, it looks like more.
Also, when I was in school, we didn't have the one-cent and twenty-five cent deals at back-to-school time. We didn't bother to follow the sales or to stock up on compsition notebooks while they were ten cents. Today we have that option, so it's a favor for the school to let us know what we'll need all year long -- while it's still on sale.
Certain products exist that didn't exist when I was in school. No one ever asked me to provide hand sanitizer -- it didn't exist. I had a TI-35 calculator, which I think was about $15. In contast, no one had to list name brands because Crayola was the only game in town. Likewise, all the pencils on the shelf were decent quality. Today, with more choices, teachers have experience with what really works, and they help parents choose those things (as opposed to dealing with inferior products all year long, or having to replace it, which is more expensive in the long run).
As for products not being used, I can't say that's been a big problem for us. The only thing I can think of is that we've bought big packs of graph paper, only to find that it's been needed for only one unit -- but then we have the lion's share of the paper left for the next year. And if your .07 folder isn't used, I don't see it as a reason to complain.
Since I have kids and you don't, I can give you the bottom line here: School supplies aren't expensive. We watch the sales every fall, keep a good stock of basics in a box on top of the file cabinet, and for my two girls it costs about $25 total per year. About the cost of taking your family to a fast-food restaurant once. The two things that "cost" are backpacks and calculators, items that don't need to be replaced every year. Compared to all the other costs incurred in raising a child, this isn't even a drop in the bucket.