Of course now we have cheap drones, putting massive asymmetric financial power. Every time Iran fires a $1k drone, America fires a $1m missile to stop it.
That's a great way to lose a war of attrition.
America has been losing wars for 50 years, from Vietnam to Afghanistan. 11 carrier groups or 110 doesn't make any difference.
But are they really 1 million dollars? I've always had the feeling that the cost of military equipment in peacetime has an extreme inflated price because it's a tax payer black hole with so much bureaucracy, middlemen and some level of corruption that you can charge almost any price you want. In a war economy where the goal is to make as many missiles as possible, would governments really pay 1M a piece?