Seems like a pretty reasonable estimate, if it cost about $2 a hour to rent a decent GPU, that’s 18s per penny which sounds pretty doable to run one frame.
If you wanted to do this at high res, you would definitely use a latent diffusion model. The autoencoder is almost free to run, and reduces the dimensionality of high res images significantly, which makes it a lot cheaper to run the autoregressive diffusion model for multiple steps.