Probably not, but maybe. This chinese processor is hardly a beast. It is comparable (±20%) in raw GFLOPS to a ~$200 Intel skylake processor: 4-core 3.3GHz i7-6700K is rated 422 single precision GFLOPS.

Die size is 640mm2, die cost is ~$42(asumming TSMC's yields, chinese fabs have much lower yields) - so at volume manufacturing cost(including test and package) is surely less than $100 ,closer to $60-70.

And in large enough volume, assuming 50% gross margins, sure it could be cheaper.