Actually, that’s not true.

For the mid-size launches that SpaceX is billing 62m$ for, Ariane bills 60m$ for.

What Arianespace offers at 130m$ is instead something SpaceX isn’t even offering currently, as their second stage is far inferior to Ariane’s.

(Ariane always bundles a 130m$ and 60m$ contract per launch together).

If SpaceX can relaunch the rockets multiple times, that might reduce the cost indeed, but they also have far increased labor costs up ahead, as they can’t keep everyone working overtime for free forever.

$5M is rather low, and 10 launches rather high, for the time being. First-stage reuse would likely cut prices by 33-75% for the first decade; More than that is going to require a significant expansion of the satellite market, which takes time.

The best market prospect for cheap launch is probably the re-advent of LEO communication constellations, which will each require hundreds to thousands of satellites along tens of orbital planes (adding tens of launches to the global manifest per network).