I spent about 20 seconds looking and found Fiochhi 115gr FMJ for $.19 per round. Steel and reloads, as you noted, can be found for as low as $.16 per round. Now, I get that some people prefer first loaded brass, so they can collect the brass and reload, but if you aren't doing that, properly remanufactured brass and steel make way more economic sense (and since the picture is based on buying ammo new). .50 BMG can typically be found for about $2.50 or less per round, brand new.
It's totally possible this picture was made a couple years ago, at the peak of the panic pricing, but even then, I've never seen .50 BMG get that high per round ($5 yes, $9 no).
Are you counting shipping? Just curious as that normally changes the pricing a bit. I'm one of those who mostly sticks with brass, due to having multiple friends who reload who I pass the brass off to (who are happy to reload me some ammo in exchange)
If your price above for Fiocchi did include shipping, please send me the link so I can order some...