Those numbers are colossally lower than what NYC and London came up with for transit buses ages ago (about $1.2 million/£1.7 million). I haven't looked at the article yet but it's probably due to the lower use and lower population density.
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School busses are running fewer hours than transit busses, so that may account for the discrepancy.
Batteries have also seen huge price drops.
https://pubs.rsc.org/en/content/articlehtml/2021/ee/d1ee01530c
Even in the past 10 years, the cost per kWh has gone from something like $270 to $180. These prices maybe aren't quite in the full freefall solar has seen, but they're declining very rapidly even absent any technological quantum leaps.
Unlike transit busses, school busses only need to be in service a couple hours a day and can basically trickle charge overnight. They require far lower range on top of the declining battery prices. While I don't know the original NYC study being referenced, it is zero surprise that the school busses are a lot lot lot cheaper.
BEV transit busses are, frankly, a stupid fucking idea. Almost as stupid as battery trains. Put up a pantograph and electrify it properly -- it costs a fraction as much over relevant lifecycles.
most transit buses are also larger and/or heavier, with larger engines that burn more fuel.