Even if this is still true, you're talking about different things than what most Americans purchase. Very few Americans purchase the single shot of espresso, but last I checked Starbucks has it for ~$1.50.
What many Americans consider coffee is really a milkshake flavored with a couple of shots of espresso. Then there is the size issue. If I walked into a cafe in Europe and wanted a grande sized latte it would end up being very similar in price to Starbucks (2 espresso shots and basically a glass of milk).