No price point has been set for the PS5 as of yet, but it could well go beyond €450.
As anyone who's bought a console right out of the gate will tell you, you're paying a premium to get your hands on it first.
Some players adopt a wait-and-see approach or buy second-hand as the price point at the very beginning of a console's life is too much. For one, manufacturers have to consider the cost of development, sourcing parts and then mass production of said parts will eventually reach a point where the price can come down naturally.
A report by Bloomberg states that Sony are now trying to keep the cost of the PS5 down, with the current manufacturing cost at $450 / €415 per console. The reason for the high price is to do with the PS5's flash storage system, as certain components for it are becoming scarce as phone manufacturers are sourcing the same parts.
Right now, a PS4 Pro can cost you - give or take - about €370. In the past, consoles were often sold as loss leaders, with the console manufacturers making up the money through licensing, online subscriptions, and the like. However, the PS4 changed the tactics by making itself profitable right off the bat, especially as the PS3 was such a disaster for them in commercial terms.
Right now, Sony hasn't issued any official statement on Bloomberg's report and no doubt this isn't the end of the story. Already, some features on the PS5 have been walked back, owing to the issues with sourcing parts. Not only that, Microsoft's Xbox Series X is due to launch and will likely play a role in how Sony sets the price for the PS5.
The current release date for the PS5 is set for the fourth quarter of 2020, right in time for Christmas, so expect a price point to be announced in the next couple of months.