The monkeys over at Resetera are expecting their PS5 to inc a 15TF GPU, top of the line 8 core CPU, 1TB SDD, 32 GB of RAM and a 4K BR drive all for $499.
Some members over there need to put down their crack pipe.
Are you saying the specs are outlandish or getting those specs at that price? I think the only thing on your list that is questionable is the GPU power, the others are all heavily rumoured and some bits have been confirmed by Sony (and by MS for Project Scarlett). Sony will want to handily beat the 1X in terms of CPU and GPU performance, plus MS have already claimed Project Scarlett will be four times as powerful as the 1X, so Sony will be desperate not to be left behind or look inferior versus their major rival.
Pricing will be interesting. I think they'll kill sales if they price it north of about £550. That's the absolute maximum I'd be willing to pay and even then I'd probably only pay that if there's a really strong lineup of launch games. Who here is realistically going to pay £600+ for a console at launch? It would also be significantly more than Sony or MS have ever charged for a console and they've always come with quite high-end components, even if they aren't bleeding edge by the time of launch. Also, I imagine AMD offered a pretty competitive price for the custom Zen 2 & Navi APU both consoles will be using. It's a big coup for AMD to have retained both major console manufacturers for their next-gen offerings, I don't think they'd have wanted to risk either company running to Intel & Nvidia for the CPU and GPU.