Exactly, I'd save $270 if I found a direct flight from Quito to Hurghada. I don't know every countries rules, and I was hoping posting on this forum would get answers from other travelers going to the Red Sea who found a way to do it. My understanding is Egypt would let me transit through Cairo airport to Hurghada as well, although that is irrelevant if I need to transit through somewhere that doesn't allow me first. From the answers I've gotten, this is not practical or I asked the wrong audience.
Assuming EgyptAir charges me the same price in person they do on the website (not always a valid assumption) buying a ticket when I get to the Cairo airport and flying to Hurghada is definitely the way to go.
There are ways of avoiding the expensive PCR test ang getting the cheap one on arrival in Hurghada/Sharm/Marsa Alam/Marsa Matrouh (for example flying to Istanbul and then getting on the Pegasus flight to Hurghada) but you have the Lufthansa ticket to Cairo and that is essentially an iron ball tied to your ankle.
This being said, there's nothing so difficult in getting from Cairo to Hurghada by car or even by public bus. You can probably get away with 75$ by taxi or anywhere between 12$ to 25$ by bus, depending on comfort level.