On the surface yes. In reality, it couldn't be further from the truth. Putting aside the whole debate of "unlimited" and how it doesn't exist, those hosts force you to pay years in advance to get those prices.
SurpassHosting - $7/mo (they will NOT let you use 500GB of disk space, it's called overselling)
HostMonster - $5.95/mo, but only a yearly option, no monthly payment option ($71 due at signup)
BlueHost - $4.95/mo (regular $7.95/mo), but again no monthly payment option ($60 due at signup, regular $95)
GoDaddy - $4.99/mo, but you have to pay 3 months in advance, no monthly option
ItsJustHosting - $2.50/mo, monthly payment option, $25 if you choose to purchase annually.
Considering most websites will have enough resources and then some with our basic plan at $2.50/mo, our pricing is very good. Why pay twice, and even 3 times as much, and pay for it a year in advance to get it when most websites will do perfectly fine at $2.50/mo?
The above hosts promise either "unlimited" or huge amounts of resources (500GB) to lure people in, but in their TOS (as with the TOS of all shared providers) there are restrictions (no video streaming, no file storage, static pages etc...) that limit you to about what we offer in terms of resources, which is realistic for the shared platform. If your website is using anything that is resource intensive, those hosts will suspend you, because at that point you're looking at either a VPS or dedicated server.
The shared platform cannot support a website that gets "unlimited" traffic or uses "500GB" of disk space. It would simply not be worth it for the provider to offer you those resources at even $7/mo, because at that point you will be using a nice chunk of an expensive server's resources that they can allocate to many people with basic needs and make way more.
We offer realistic resources, at realistic (bordering on affordable) prices. We too could advertise Unlimited or 500GB disk with our basic plan, but we choose to be honest.