For an actual answer, those isk values are determined by average market values.
the 1.5 million isk for base materials is how much those input materials cost on the market. the 650,000 isk for the result is how much that item usually sells for.
it sells for significantly less than the total price of the input materials because it’s a garbage item that CCP created whose only purpose is to waste capsuleer time. the item itself is unusable. the only thing you can do with it is Reprocess it to get (up to) 55%(?) ish of the materials from it (i.e. the Caesarium Cadmide).
if you look at the Attributes for that unrefined reaction, look at how much you’ll get from reprocessing, and then halve it (due to reprocessing efficiency limits). then you’ll understand why it’s worth so little.
FINALLY, compare the amount of TIME you spend on it (from your skills, it shows almost 3 hours), then ask yourself if it’s worth wasting 3 hours for how little Caesarium Cadmide you actually get.