No, we know from the financials of these companies that API prices are close to being at cost and the individual developer plans are heavily subsidized (because they are roughly 10% of API cost per token[1]).

If plans were at cost and API pricing was marked up that would mean there’s a 90%+ profit margin on tokens and instead of raising money and talking about revenue, Anthropic and OpenAI would be talking about their obscene profits.

[1] the caveat is that the average plan user probably doesn’t use all of their quota, I guess maybe 30% is the average across all users.