That's never been true. At minimum, as it's missing the most important variable: quantity of people. 1 person working for a year vs. 12 people working for

That's never been true. At minimum, as it's missing the most important variable: quantity of people. 1 person working for a year vs. 12 people working for a month could cost the same and have dramatically different results. And it ignores so many other aspects of effective use of productive capital in software dev (toolchains, cloud, AI, etc.)