This looks like the Apple TV (4th gen) Siri remote, which is small, but packs in a dual microphone, Bluetooth, IR transmitter, accelerometer, touch pad control, and rechargeable li-ion battery with lightning connector. It's not cheap. The Apple Canada website is selling it for $79, with free shipping. Apple's pricing seems in-line when you take the hardware features into account.
I have no idea how a generic replacement could match these features for $2.29. You could look on ebay and kijiji for a used remote and save a few bucks.
There is also a Apple TV remote app for iPhone and iPAD, though I have not personally tried using it.