That’s not dumping.

This is: https://en.wikipedia.org/wiki/Dumping_(pricing_policy)

While the means may be different the goals are the same:

"The objective of dumping is to increase market share in a foreign market by driving out competition and thereby create a monopoly situation where the exporter will be able to unilaterally dictate price and quality of the product".

The word “dumping” in this context is a well defined term, not a colloquial English word.

Making cheap products from cheap materials (at a presumed profit) isn’t the same as loss-making pricing schemes even if the high level motivation to beat competitors is the same.