“...16 MiG-29SMT fighters. Under the deal, said to be worth $473 million...”
$30 a plane. Is that reasonable?
Yes. It's hard to find anything under 50 bucks these days.
The US does not currently have a twin engine fighter comparable to the Mig-29 for cost comparison. Two engines do cost more.
Much of the low cost of the early F-16 vanished with all the radar and other bits that got added onto it. Sounds like the Mig-29MT comes fully equipped.