Your conversion there is correct.
I was working off having to special order a 500W single speed 33000rpm handheld laminate trimmer as linked below, for about $250 locally, and figured for the extra cash I could get something that’s made for the job and have speed control.
https://ryobi.co.za/products/laminate-trimmer-500w-industrial-5yr/
Prices here aren’t really proportionate to ability and more on what they can move the most of, routers readily available are 11lb (5kg+) plunge routers (equivalent linked below) which come in at similar prices to the spindle.