Such coverings are rubbish... quite simply. Quality has its price...
No, that is not true. Solid oak planks are among the highest quality floor coverings you can get. And the material cost for the wood is indeed in that range. However, several work steps are necessary for the installation: preparing the floor, fully gluing, sanding (multiple times), and oiling/varnishing/waxing (possibly multiple times). This makes the whole process very expensive. I cannot imagine that you can manage this (overall) with a double-digit amount per square meter. But solid planks last forever.
I am well aware that oak floorboards are high quality - but not at that price. And not untreated either... although treating them afterwards will cost a lot of money.
However, the material price can certainly be within that range. And those are logically raw boards, because the final treatment takes place after installation.