Is it? I didn't bother to check, but G80 was made on 90 nm, not 65 nm... So the physical diesize might not be all that different.
Besides that, G80 was 2 years ago, these days production costs are different.
Heck, even the 7800 was a very expensive card at its introduction, or the 6800, or the 5800 etc.
Aside from that, GTX260 will be a 'broken' GTX280, so that changes economics. In the technical sense it's just 'leftovers'. The diesize itself isn't all that important... What's more important is how much they can improve yields by disabling various broken modules on the chip, and how much performance is left.
Again, look at the 8800GTS, which is basically a 'broken' 8800GTX/Ultra. By simply disabling 32 of the 128 processing units, and reducing the clockspeed a bit, they had a card that was only about 20% slower, but which they could sell at only about 60% of the price of an 8800GTX, making it an incredible bang-for-the-buck card, and probably ATi's biggest nightmare at the time (even their 2900XT had problems competing).