I take that at “we really don’t want to serve these folks but want to say we do”.

Delusional for sure, even in the US market. That is up to 14 hours of minimum wage work. Even in California, that is 7+ hours of work. I think you can expect students to be working poorly paid jobs generally. I can't imagine anyone actually paying that as a student themselves.

Where do you see “students learning code”? I wanted to screenshot that and share it.

I’d be completely unsurprised if they amended it to not say that anymore after realizing how ridiculously silly it sounds.

Probably just a marketing technique to steer businesses away from that tier. I doubt they seriously expect many students to have 100$/month available to spend on their API.