No offense but I think your calculations are a little off. A layer cake is about 2 3/4 yds and I'd love to find Moda for $7 yd. You are paying for the opportunity to have a sample of every coordinating fabric in a particular line and I agree layer cakes are over-priced but I usually buy them on sale and like that I can use up most of the fabric in one project.
Sorry, I see someone else questioned your calculations also. I wouldn't have posted if I had seen that.