You're misconstruing "fair" which is what you think you would be willing to pay for it, with "fair" which would be AT&T getting its money back for it.
Often, I think that if something were cheaper, I'd buy it. But that doesn't mean that the product isn't being offered at a fair price. Just not the price I would pay.
I understand the definition of fair and see your point of view but I think that in the past 20 years fair has taken on the meaning of what someone thinks is "ok." I was making an observation on the word and it's evolution to many people and not meaning for that to sound so stand off-ish.