That's true now, yes. But anyone who realizes this also realizes (as you do) that nuclear waste disposal is not an issue: you just store the spent fuel now, and at some point (in the not too distant future if we were actually using nuclear energy for a large portion of base load power), mining and enriching new fuel will be more expensive than reprocessing, at which point all of that so-called "waste" will be useful. The idea that it needs to be stored safely for tens or hundreds of thousands of years is just ludicrous.

Also, reprocessing makes disposal of what's left over much easier, because the stuff you actually have to dispose of afterwards (i.e,. the stuff that isn't now reprocessed fuel) has much shorter half-lives and so only needs to be safely sequestered for a much shorter time.