That may be accurate for some private schools if they aren’t offering any financial aid.
For a family income of $150K/y, with commensurate assets, I’d expect some of them (esp. the more selective ones) to have net prices below $50K.
$50K/year is enough to cover the full OOS cost of attendance for many (but not all) public universities.
https://www.kiplinger.com/tool/college/T014-S001-kiplinger-s-best-values-in-public-colleges/index.php