Hi @mim ,
Thanks for your patience. Product team confirmed that Synapse SQL serverless billing is based on data processed and Data processed is amount of data stored internally while executing your query. It consists of data read (compressed data+metadata reads) and intermediate results (data shuffled which is in uncompressed format always). In case of your query, it read all columns and all rows, which means that data processed = compressed (data that is read + metadata reads) + uncompressed (data that is shuffled to your endpoint) and few more like autostats and read-ahead. If we are running aggregated queries, data processed is equivalent to compressed file size because on top of it there would be metadata reads and shuffling of result of SUM function (single value) which would add insignificant overhead comparing to actual data read.
Product team is working on updating pricing page with better explanation and samples. Hope this helps!