Me, individually, providing it to one customer? no.

At scale, providing it to tens of thousands? yes.

It's a perfectly fine price for a customer to pay and not worry about it, but it's not squeezed to extract every fraction of a cent because competition is so fierce. In a race to the bottom you'd expect the bottom to be approached, but it isn't.

Bluehost, Kinsta, WPEngine, GoDaddy etc, are marketing companies that sell webhosting, and they have very healthy margins. They compete on ads, not on price.