You would be categorically incorrect.
It includes every single penny attributed to line items under fighter pay - every PPV bonus, every discretionary bonus, the cost of the insurance plan and more recently the performance institute. This is public record and not up for debate, its a fact and widely published. Please look this up yourself, don't take my word for it.
We also know from financial filings that the UFC is having, literally, record profits.
This is after earn outs in the tens of millions and a 50mm/year management fee going to Endeavor.
There is plenty of money, the UFC is just keeping all of it. UFC fighters are getting pennies on the dollar.