Yes and unless you're paying Starlink say $300/mo, they are taking a loss to serve you internet. Cities are especially difficult for them because more users are in the same spot beam so everyone shares the spectrum and they need even lower oversubscription ratios.
Yeah I don't know about the math. I've seen numbers that differ significantly from yours, but none which make it profitable at a reasonable price. I am sure he will continue to drop launch costs and I assume satellite improvements will make them able to serve more people, maybe orbit longer as they get smaller.
Or maybe it'll just implode. I hope not.