@Fmstrat
Any reason you use USB to serial adapter from the Pi3 to the Pi0 when the Pi3 has UART pins? some jumper wires across would be enough. Of course you would have to disable the kernel serial console if using the onboard UART of the Pi3. And Serial to USB adapters are cheap enough.
Not easy to optimize this further without increasing costs though. A combined unit that does VGA direct capture instead of using more signal converters would surely cost more. I'm sure you looked at all the options.
With some engineering I'm sure it would be possible to do way better than the Aten IP8000 though. That actually has a FPGA to do VGA capture which increases cost.
On board iKVM just provides its own integrated graphics so the software can just access the framebuffer directly.
I'm imagining a PCIe board that actually has one of those
ASPEED AST2400 chips on it.