$100? Sure. During the holidays, that would be a cheap next gen console.
However it would have to be $100 cheaper than my ideal price. So in your example, $499 PS5 is a heck no, and a $399 PS5 digital console is also a heck no.
$399 PS5 and $299 PS5 digital console is fair to me, and I would choose the $299 console.