Mac minis from 2005-2024 launched with entry-level models priced from $499-$699, with the outliers being the 2018 model at $799:

https://everymac.com/global-mac-prices/all-msrp-mac-mini-pri...

Though $599 for the M4 in 2024 seems like a local optimum.

Actually they were famous for being tiny.