Yep. Add a usable SSD to that and it'll be 7K.
I have 8TB in my laptop (cost $500) and 28TB total in my desktop (cost ~$2K) and before you start on it, yes I do use that much space.
These are unheard-of numbers for a middle class Apple owner, but commonplace for a middle class non-Apple owner.
Looking at the Apple website their offerings start from 0.25 TB. What a joke. My phone has that much.