Yes - I agree. Most likely, the author did neglect (forget?) the influence of re=1/gm.Making re zero gets the gain to the neighborhood of -11;
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Leaving out re and them making an arithmetic mistake seems to me the likely explanation.
Surprisingly, it happens relatively often that somebody uses the simplified gain expression "RC/RE" - perhaps without knowing that this is an acceptable approximation for the case RE>>1/gm only .
(Remark: I do not like at all the term "re" instead of "1/gm". Rather often I have seen that there was a confusion between an external feedback resistance RE and re=1/gm. This is, in particular, a problem when a capital letter ("Re") is used and not the symbol for a dynamic resistance ("re").
More than that, the unit of "1/gm" is V/A, however, it is not really a resistance -some people even call it "internal emitter resistance". Instead, it connects the voltage between B and E with a current between C and E - surely not a two-pole element which we may call "resistor").
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