I wondered the same thing. I can't imagine more than a few million dollars of raw material goes into a satellite. I'd wager it's more like $150mil to design the satellite, then $20mil for parts and $20mil for labour to build it (since these things are so low-volume they've gotta be largely hand made).

It'd certainly suck to be one of the people who's slaved over the satellite for the last couple of years, to see your baby get blown to smithereens like this.