Well the maths would go something like:-
500,000/300(TDS) = 1,667 (litres of pure water per 25kg bag).
So roughly speaking, that's £75 to make 1,667 litres.
That is about 22 litres per £1.
If you take 15 litres as being a standard 3 bed semi, that would be about 66p per house.
Even allowing for cheaper resin and a bit lower water usage, it isn't easy to see where the 16p figure comes from.
I suppose if the cost of membranes/prefilters/small amount of post RO resin were factored in and subtracted from the resin only cost it could come down further.
However, to factor in the initial cost of the RO would be wrong IMO as housings and tubing last for years (freeze-ups excepted).