And it all started with $32. Also 16GB of RAM is a lot for RPi, IMO.
The entry level option is the Raspberry Pi Zero 2 W, which is still $15
https://www.raspberrypi.com/products/raspberry-pi-zero-2-w/
It also has twice the RAM of the original Raspberry Pi (at launch), plus WiFi, plus a lot of CPU power, and a powerful GPU, and a lot more.
I have a 16GB model and I use that much RAM for some specific development work on the Raspberry Pi platform, but now I wish they had never announced the 16GB model. It has created so many complaints from people who shouldn't and won't be buying it.
It depends a lot on your use case. For headless stuff (automation that mostly uses the GPIO, for instance, or running a few "old school" server processes), you usually don't need that much RAM. However, when used as desktop computers, 8GB becomes the bare minimum to run a modern Web browser with a few tabs...
Someone said 640kB is enough for everyone.
It started at $35/unit, in the United States at least. I've still got the invoice for my 256MB Model B...
$35 today gets you a 1GB Pi 4 Model B. For somebody who actually needs the form factor, it's pretty much a fine value.
For somebody who wants a server, it's always been a weird choice. (sorry Jeff :D )
For somebody who wants a desktop, the Raspberry Pi 500+ was a really fun choice when I bought mine in January. They cost twice as much today, which is sad. (although if anyone is feeling the desire and lives near a store, Microcenter has them on sale for $100 off...)