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RULES:
Costs and nutrition estimates
The internet tells me that 125ml milk to 30g cereal is the proper ratio. In freedom units, that's ~30 servings per gallon or $0.10 of milk per bowl, and 30g is a little over an ounce, so $0.10-0.20 cereal per serving, leading to about $0.20-0.30 per serving. For avocado toast, a slice is about $0.11-0.12, so avocado toast is about $0.61-0.87.
Looking at nutrition (taken from MyFitnessPal and Walmart websites):
In total for my area, for an average serving:
Normalizing for cost per calorie in my area, I get:
In other words, avocado toast is something like 2-5x more expensive than cereal, depending on where in that range your meal falls. If you're buying regularly priced cereal (more like $0.20-0.25) and if milk is more expensive in your area, then it's a lot more competitive, but still cheaper than avocado toast (something like half the price).
That said, neither is a particularly expensive meal, and you're not poor because you're eating avocado toast. However, if everything you do is 2-5x more expensive than alternatives, then we have an issue.
You're also forgetting that cereals contain almost no vitamins or fiber, but avocado does. So, to make up for it, you should eat a salad to your cereals. Then calculate the price again. You will find (I guess) that avocado can compete with cereals+salad.
Well, a multivitamin costs a few cents...
But yes, cereal is certainly less healthy than avocado toast, but it doesn't really need to be if the rest of your diet makes up for it. Also, there are also breakfast cereals with higher fiber and vitamin content (e.g. most granolas), and oatmeal has 4g fiber in a 140 calorie serving and is cheaper still than most breakfast cereals.
My point here isn't to decide which is the best option for your breakfast, but to challenge the idea that avocado toast is somehow about the same price as breakfast cereal. There are a lot of options for breakfast that can fit into a balanced diet. The important thing is to find something you like that supports a healthy lifestyle and fits into your budget, and there are a lot of options to get there.