It won't be close to the same price. They can't subsidize products built by third party partners, and third party partners have a lot to lose by pricing their Xbox branded hand-held PC's below that of non branded PC hand-helds. So expect price parity at best, and most like above that of equivalently specced pc handhelds.
This is why they are pre-emptively lowering expectations by presenting it as an exploratory product.
It won't be cheap, in fact I'd expect it to be in the ballpark of the PS5Pro price-wise.
If they price it against PS5 or the pro they're not going to sell many units.
Users can't meaningfully compare a PS5 with DualSense to a handheld that plays all of their old digital-only Xbox games and emulates Switch 2 games.
On the flip side, if MS eats the cost of the handheld down to Switch 2 price or below they could steal Nintendo's sales.
Comparing a Switch 2 with an Xbox handheld that emulates most Switch 2 games and plays 100% of PC games is easily doable - they both use the same strange controller layout.
MS tried to buy Nintendo outright years ago for $25 billion. Instead of doing that again they could 'invest' that same money into giving away handhelds to take sales away from Nintendo's Switch 2.
$25 billion = MS eating $500 of the cost of each Xbox handheld for the first 50 million handhelds.
Nintendo loosing 50 million Switch 2 sales to a handheld Switch 2 emulator (that plays Switch games for free but can't buy Switch games) before the Switch 2 goes on sale would devastate them.
By giving the Xbox handheld away they can doom Switch 2 sales forcing Nintendo to sell games on the Xbox handheld to stay afloat.
Nintendo laughed at their buyout offer and getting Nintendo on Windows has been on Bill's bucket list for decades.