Gotta love HN math. Calculations to two decimal places, starting with a number plucked from the high end of a distribution with standard deviation of at least 100K.
don't forget benefits, hardware, support staff portion, and possibly office. We typically calculate 50% over... so that's 120k at a likely low end.
we run ghe at work and I know we spend 8 hours 4+ times a year for a test upgrade and then an upgrade from an eng that makes above either of your estimates in salary alone.
None of this includes all the work we're not doing to build new integrations or features in the ci system that we get for pay for the product. But we're not a scrappy startup either. We're paying down much of the tech debt from being a scrappy startup, it's not been cheap.
What a dev costs is not the same as what an advertised salary for a dev is. This is closer to the middle of the distribution for dev costs in the US.