I think you're right, and that actually worries me more. Amazon likes to sell books for under $10, many ebooks I've bought are $5 or $7.
Maybe it has something to do with the book it's self (i.e. they charge $0.07 per image), but do they mention how this is calculated anywhere?
If I sell an ebook for $2, they take $0.60 in general, and then they decide that it costs $0.80 to deliver... that means they're taking 70% of the cost of the book. So if I'm successful and have to pay taxes, I may be making like $0.12 per book.
I don't remember every seeing this cost mentioned before in the few articles I've seen about selling Kindle books. I'd love to know how it's calculated.