A price of $4,000 for the R5 would betray the R5 moniker that strongly indicates it's intended to be the RF equivalent of the 5D series DSLRs. Those have consistently been in the $3,299-$3,499 range, with the exception of the 5DS, which was a niche specialization that shared the same body but was aimed at a different market segment.
While features are certainly related to price, the floor and ceiling of price ranges are primarily determined by product positioning relative to its intended market. It's possible that Canon is rearranging its market segmentation and product positioning, but highly unlikely with the R5 moniker. I see that as a clear message to 5D shooters that a mirrorless body is in the works for them.
If anything, the global contraction in ILC camera sales, coupled with Canon's statement that it will aggressively win marketshare in the full-frame mirrorless space would point to:
- More features at historically consistent prices for a given segment, or
- Lower prices for a modest (generationally appropriate) boost in features, or
- A combination of both.
While I think a launch price of $3,499 for this feature-packed R5 seems most likely to me, I would not be surprised one bit if Canon launched the R5 at $3,299.
In a contracting market, raising prices doesn't win you marketshare, and saying, "But it has a whole slew of redical features to support the higher price!" doesn't mean the target market has (or will spend) the money to buy it.