At least here in the UK, that's off by a lot.

Here, Series S is £400-£430 for 512GB or £500-£520 for 1TB.

Xbox Series X is £600-£620 for digital 1TB or £50 more for the disc version. That's much more than I paid for mine a year after launch (£450 I think), but luckily still nowhere near 1700 Euros.