I'm no expert on ebooks, but, yes, when I'm crunching the numbers on a prospective book project for Tor, I'm going to be concentrating on the licensing fees, author advances, royalty rates, subsidiary rights, territories, and so on, as opposed to the PP&B (paper, printing & binding) costs, which are only really an issue if you're talking about some two-thousand-page doorstop.
And as ebooks expand to be become a bigger part of the market, they're going to be expected to carry their weight when it comes to paying for the advances, salaries, overhead, and so on, instead of getting a free ride off the print edition. The cover price pays for the content, not the paper and ink.