I don't get how £600 is cheap yet everyone thought the pixel 4 was overpriced at £669? At least the 4 had highish end soc and proper face id.
The Pixel 4 was a flawed device...faceid that wasn't widely usable in banking apps at release, experimental motion sensing tech that Google dropped like the usual hot potato, insufficient RAM for a high end device, measly storage, notches, chins, and of course the 2800mah battery.
If rumours are true, the Pixel 5 will be a well-rounded device that corrects many of the flaws of the Pixel 4, so even if the SoC isn't high end, the rest should make up for it.