Why is it hard to believe? The only answer I ever hear is "probability". People's concept of probability is flawed - just go to Las Vegas to see that in action.
The thing is, there's not an infinite number of galaxies out there - the universe is finite. Therefore, the possibility of ET life is finite. We have this sense that life must be easy to generate from nothing, because, well, we're here right now, so... flawed concept of the probability of life.
Going off of T.Lex's numbers, 1 in 7x10^20 chance of any sort of life forming and 10^24 stars...
Let's assume that only 1 in 100 stars have a planet that's habitable...
that's 1x10^22 / 7x10^20 ...
so, there's a 15:1 chance that life forms anywhere in the universe... and it's already here, so... yeah, placed money on that bet any day of the week, but let's be honest, the numbers behind all this is conjectures and theories.
Anyone got another calculation? Admittedly, mine are quick and without a lot of basis.
The study didn't say there was 1 in 7x10^20 chance of any sort of life forming. That number is just an estimate of the number of terrestrial planets around M stars in the observable universe. The number is basically the denominator. Earth, so far, is the only known numerator. That doesn't imply anything about odds.