With the price going so high so fast I bet there is some hysteria around BTC. You are doing the math, which is good and rational, but sometimes people aren't thinking with their head and they just want to make BTC and don't factor in electricity. Or maybe they have "free" electricty, I don't know. Or they might bet the price will continue to rise and that's how they're playing it instead of buying more BTC.
Fortunatelly the electricity is only small percentage of the mined Bitcoin, so you dont need to factor electricity now, but next year will be different and some ASIC miners wont pay even electricity cost