Without context that actually isn't as crazy as it sounds, considering some of the absurd budgets of TV shows nowadays. But for a show with seemingly so little cultural impact and from Netflix it really is suprising.
I mean Amazon spend way more on the terrible LOTR series and Citadel cost like 300m for a single season without having any cultural impact. But that is just typical Amazon throwing money in the fire hoping for their own GoT, whereas Netflix usually seems to be much more about numbers and cancelling shows if no one watches them (so apparently the viewership numbers are still solid?).
And recently Andor came in at over $600m for two seasons, but especially the second season was basically like 4 high quality movies (each 3 episode block being roughly one). Which puts the whole budget into perspective and i feel like the repairs it did to the damaged star wars franchise brand were huge.