Marshal Motley once wrote a hilarious piece where fashion designers added weapons to their lineups. Not only will the new guns be better, they will look better, too. Guns will be easy to conceal. Clothing will be probably be armored in the future, especially if the police get much worse than they already are. Consider the failure rate of equipment.
Batteries die and guns jam.
A clip doesn't hold an infinite number of bullets. Think about new weapons that people would use. With cheap, portable technologies, production out of the garage is possible. Research and Development cost for garage companies can easily undercut the large companies. Mass production is not possible, however robotic assembly is possible.