Yes, this is not accurate because it is just an illustration, not a concrete description of a process.
If you want to consider it in a semi-formalized fashion, consider prices which would form on futures exchange for these electro-coins. (I assume that prices of electric energy is fixed and number of hashes per unit of energy is also fixed.)
Suppose that delivery date is one month from the point where trading stops. Let's introduce two parameters: B is maximum possible demand for coins at prices above electricity costs (you can also consider a stochastic model: e.g. probability that demand is higher than B is very small), and P is peak hashing rate: maximum amount of coins miners can produce within a month (it is limited by electricity and hashing power available to miners, as well as 'ramp up time').
If B < P, there is no reason for coins to trade significantly above energy costs. (Assuming arbitrage-free market, perfect competition etc.)
If B > P then we can get coins traded above energy costs, but is this a realistic scenario? Moreover, if B(x) is maximal cumulative demand over x time units (e.g. months), I expect that B(x)/x goes down for higher x, i.e. we can come up with tighter bounds, on the other hand P(x)/x goes up with higher x because miners can ramp up hashing power if there is demand. So eventually for some x they will meet.
If we know that price stabilizes in the long term, it creates arbitrage opportunities and so price will stabilize even in short term.
Now let's consider a situation where current price is below electricity costs. Then there is no mining. If we assume that there is coin loss proportional to economic activity (I already mentioned it), at some point supply will fall below demand.
(OK I guess Etlase2 now has much better solution, but I believe even simple rules can significantly stabilize price.)