English Muffin: 70¢
Slice of cheese: 40¢
Egg: 40¢
Slice of Ham: 50¢
Hash browns: 40¢
Coffee: $1?
In total $3.40. £5.09 for that in hot, prepared form ready to eat sounds cheap to me, not expensive.
That's about the same as $3.40, but for 4 full meals (one of those is smaller than the others)
Admittedly I've optimized my menu.
Oats, brown sugar, milk, (frozen) french fries, chicken burgers, "American" cheese, gnocchi, tomato basil pasta sauce, turkey nuggets, tinned beans, xv olive oil, lemon juice, cayenne pepper, garlic powder, chicken salt, seedless grapes
I mean these things are not difficult to make. They even freeze extremely well, and then you toss them in the microwave for a couple of minutes while you're getting ready and they're done. And the food you create is not only much cheaper, but also way healthier and also higher quality. When you go to a McDonalds you're getting the cheapest possible find they can source on a global level. The only reason they dropped pink slime [1] is because they were outed using it on television.
Incidentally that was a long time ago and while Wiki is quiet unclear it seems that the USDA chose to reclassify back as simply ground back in 2018. If it's been rebranded and remains legal, that's probably what people are now eating, again, at least in the US - as it's deemed unfit for human consumption in Canada and the EU.
I do think that the fast food (or even eating out in general) starts to lack any real selling point for households that are capable of cooking, and so this is probably going to weight the customers, especially regulars, of these sort of places away from households that do cook. I suppose you'd argue time is the selling point, but one can even remain competitive on there with things like pressure cooker meals. There are even one pot rice cooker meals which are also great.