Not exactly. They could make a profit much sooner, or never make one again. Nobody knows.
500 P/E means the share price is 500 times what the company's annual earnings per share are. A normal P/E is about 15 to 20. Exciting new growth companies may be higher.
Another way to look at PE is this: How many years is it reasonable to wait for the shares you bought to earn what you paid for them? 20 might be OK. Not hundreds.
And the genius analysts keep saying wait till next quarter after 20 years of no profit. Amazon does not innovate - they just copy Apple which means they will always be 2nd 3rd low end low margin grocery company.