Based on my entirely subjective experience, the $100 Moonshot plan using only K3 is comparable to the $200 Anthropic deal using the whole Fable allocation and Opus 4.8 for the rest.
But, I'm finding Kimi K3 terrifyingly expensive in the way that Fable and GPT 5.5 Pro are at token rates. Not as expensive as those, but expensive enough to where if you don't put a budget cap on it, you might wake up bankrupt if you leave a task running overnight. Not because of the per-token cost, but because how many tokens it's going to burn.
Then, I added it to my benchmark of security vulnerability auditing capability, and it burned a bazillion tokens, burned through the 5-hour limit, burned through $100 in extra usage I'd allocated, and was only 11% finished. That's more expensive than any model I've tested other than GPT 5.5 Pro on this task.
These are things I've done with a bunch of other models, I feel like I have a notion of what they ought to cost, and with K3, they end up being crazy expensive. (And it seems to be a function of how many tokens it burns accomplishing the tasks.)
When K2.7 was released, they cut quota by 80%. I can't tell how much they have further cut it after the K3 release because it's barely worth using at all. I just use it in my model router since I have the annual plan paid for.
It's just not a serious model or company.