He's saying that's the length of the project. Not the rate.

I know there's an international tax lawyer in SF charging $1250 hour. If you want the big bucks, law's one of the places to get it (provided, presumably, you work hard and are very smart).

There are people who specialize in arbitration who make 10k+/hr!

I think they mean that that's the estimated time allotted for the project. What they're implying is that they charge less because of it, but if they worked shorter projects, they would likely charge more.