1c/GB is a tenth of the price of datacenter bandwidth, a hundredth of residential DSL or cable access bandwidth and a thousandth the price of mobile bandwidth.
The purpose of the limitation isn't to save peering costs, it's to ensure users click on Facebook's ads and compensate them for the costs of providing cellular access.
http://www.michaelgeist.ca/2011/04/cost-to-send-a-gb/