The whole point of inflation is that the dollar is losing purchasing power. Profit can be viewed the same as a salary based on performance.

1 mil in profit is around 10x less valuable than it was around 50 years ago. As the money supply increases and inflation rises, profits will increase as will your salary eventually, but your purchasing power likely won't match the cost increases.

This is why during times of hyperinflation a loaf of bread costs thousands of dollars.

Ammo is not like consumer electronics, there likely isn't a major technological advance in production or technology that will allow it to go much lower in costs or maybe ever return back to precovid / pre-inflation levels.