Honestly, now that they put in a reasonable amount of RAM, with a processor that strong and some external storage, 600USD isn’t that terrible of a price.
I’d need to see what comparable x86 processors and graphics are to the M4, but yeah, this seems like it could be one of the first Macs in a while to be really competitive on price. It doesn’t happen often but it does happen. Fifteen years ago, a couple years after Macintosh went to Intel, I bought a Mac Pro. I had a hard time comparing prices at first, but once I finally realized I needed to be looking at workstations instead of desktops the Mac Pro actually came out to be about $300 less than identically spec’d workstations from Dell and HP. That was about the price of a full retail license on Windows Vista Ultimate (or later Windows 7 Ultimate). With Boot Camp and feeling like I could find Windows on sale for less it actually seemed to make the most sense with the added benefit of access to both Windows and OS X. It was frankly the best Windows machine I’ve ever used. No bloat, and all the drivers worked.
