The last three paragraphs are required reading LOL!
“But it’s an open question whether the Air Force will ever succeed in developing a light, cheap fighter...”
The F-16 was supposed to be a light, cheap fighter.
Three of them “flying wing” on an F-15.
If you had an updated 4th Gen Fighter like the F-16 the inflation adjusted dollars would be in the ballpark of the F-35.
Another reason that the F-35’s number is larger is that the USAF changed their accounting methods. It’s a cost-of-ownership number based on the spares, fuel and so forth. It’s not just the plane youre looking at.
I entirely agree. The military & contractors can’t deliver adequate big-ticket items anymore.