This site is extremly slow to load and to navigate. My guess (and it is an educated guess) is a combination of underpowered servers and inefficient software. Gotta ask what $360K of Freepathons each year go to.
Bandwidth isn’t cheap. I was recently curious about the same thing you are, and talked to some folks who really know hosting and bandwidth costs. Based on their numbers and a few measures from Alexa data, the operations costs here didn’t look out of line at all.