$π$ represents the volume of Gabriel's Horn, and the volume of its cross section at $x = 1$ contributes very little to the total volume of the horn itself, and is far smaller in value than the area of the circle you speak of.
I think this problem lies in a misunderstanding of the relationship between volume and area. The volume of an entire object **can** be less than the area of one of its sides. Take a right rectangular prism (a box) that has measurements of $4l \space * 8w \space *0.25h$. Its largest face has an area of $32$ units$^2$, whereas its entire volume is $8$ units$^3$.
This is exactly the case in Gabriel's Horn. While the area of its left-most circular face is indeed $π$, we do not calculate the total volume by summing up the areas of each cross section's circular face, instead we sum up the each cross section's infinitesimally small volume, which we calculate as $π$ using the disk method.