Yes. And it always bothers me a little bit when people talk about how expensive some software that's downright cheap to get is. Faculty members complain to me on a regular basis about how expensive Office Home & Student is at $139. A quick glance at my favorite PDF ever, the 1993 Apple catalog, suggests that in 1993, Word 5.1 was $300 on its own.
Anyway -- I would generally agree that it's possible (probable, even) 128mb SIMMs didn't even exist that early on.