Likewise, if the RAM would be as cheap to produce as SRAM like it is as DRAM, it would be as fast as the CPU (since it is using the same technology as the CPU) and we would not need the cache at all. Imagine gigabytes of L1 cache!
First, the larger your cache the more layers of muxing you need to select the data you need, meaning more FO4s of transistor delay.
Second, the larger your cache the physically bigger it is. That means more physical distance between the memory location and where it is used. That means more speed of light delay.
And third there's the issue of resolving contention for shared versus unshared caches.
So despite the fact that you're using the same SRAM in both your L1 and L3 but access to the former takes 4 clock cycle but access to the later takes 80.
Think about what this implies though -- a desk that is too large becomes difficult for a person to use (for one, the person would have to start walking to access certain parts of it).
Likewise, L1 cache sizes are bounded, because the larger the cache becomes, the more difficult it is to address a particular location, and the cache also becomes physically larger such that speed-of-light propagation delays will slow the entire cache down.
Now, SRAM is these days made with 6 or 8 transistors while the the DRAM you use in your main memory only takes 1 transistor per cell. Also your DRAM is built with a different sort of silicon process so it cheaper on a transistor to transistor basis. But generally the dollar cost is the same for memory in any given location.
If you want to maintain your number of memory cells without decreasing the number of compute transistors, you need to grow your area which increases costs. That can be a very expensive thing here.
Additionally engineer time around layout and architectural costs are different for those different placements and cache requirements, so the cost is not uniform, but amortized it is not as significant as things like chip area.
So I still don't see any reason to back off from saying that a cell of L1 costs as much as a cell of L3, modulo concerns about keeping the cache size a power of 2.