My back-of-the-envelope calculations put it closer to $2-$10 per petabyte. The network is most attractive right now for clients who have large amounts (>1Pib) of archival data, although it's also good for acting as a cache-of-last-resort for IPFS. Think Amazon Glacier.
One of the reasons it's so cheap is that this is a quote for literally just raw storage; the other value-added services that you'd expect to accompany that are just beginning to appear now, including the FVM for more complex deals and processing over stored data.
The other big one is an automated retrieval market -- storage providers right now either negotiate separately for uploading and downloading of that amount of data (you mostly have to do that anyway when you're trying to work out how to transfer PiB of data!), or just include it in the price. But that's coming. https://retrieval.market/
All of these will add to the cost, but in optional ways, and not the orders of magnitude that differentiate Filecoin from, e.g., S3.
With the proviso that I am woefully behind on reading up on the retrieval market developments, I understand that there's a few projects being built in parallel with different emphasis. One model is essentially a P2P CDN, where the verification would be distributed across, essentially, IPFS nodes: https://pl-strflt.notion.site/Filecoin-Saturn-efc122f123f344...
Another, which I will try and dig up a link to (if I haven't imagined it entirely) is more of a sentinel system, whereby clients and storage providers have a protocol to pick a neutral third party that escrows and streams FIL payments from clients to SPs, conditional on retrievability. But as I say, I'm not an expert here.
One of the reasons it's so cheap is that this is a quote for literally just raw storage; the other value-added services that you'd expect to accompany that are just beginning to appear now, including the FVM for more complex deals and processing over stored data.
The other big one is an automated retrieval market -- storage providers right now either negotiate separately for uploading and downloading of that amount of data (you mostly have to do that anyway when you're trying to work out how to transfer PiB of data!), or just include it in the price. But that's coming. https://retrieval.market/
All of these will add to the cost, but in optional ways, and not the orders of magnitude that differentiate Filecoin from, e.g., S3.