you think they're doing inference at a loss even with the API prices?

It just doesn't make sense to me that Opus 5 costs the exact same as Opus 4.8, my bet is that they simply subsidize Opus 5 more comparatively so it still looks as if they are making significant progress to keep investment dollars flowing, further inflating the bubble. I might be completely wrong but I trust nothing their CEO says, he's a habitual doom troll and will say whatever makes marketing sense.