Definetely, we would have to wait for them to release the final product.
However, there may be some logic for them to lowering prices; as has been suggested from analists, Apple is transitioning from a Hardware-Focused Company to a Online-Services Focused Company (Apple TV, Apple Music, Apple Arcade, et. all).
Long-term growth strategy focuses not in rising profit margins from current hardware, but to increase the amount of people using their services. Hardware may be seen as a way to reach more potential customers and wrap them in the Apple Ecosystem.
So, they already have high-end markets saturated with iDevices and MacPros.
The Iphone SE, the more affordable iPhone 11, and the 329 USD 10.2" iPad are example of that strategy into play, and those have raised the sales of Apple and therefore the reach to new customers into their ecosystem.
Is not outrageous to imagine they could grow their market share importantly with a more afforable MacBook. The very old 700USD old-design MacBook Air remained one of the best-selling laptops in Amazon, way way after new designs were released by Apple. It would still have "mediocre hardware" by Apple-Standards (Like using an Old A10/A11 processor, like the one from the iPad 10.2, but still will be way faster than current low-end Intel processors).