The price of an app < 10K

A tweet started something to elaborate the price for an application that has to be build.
Mirabeu stated that it could not be done for less then 10K euro.

I will try to show you what I think based on prices below.
5 x 8 x € 85 programming app (1 OS)
5 x 8 x € 85 programming backend
5 x 8 x € 85 design
5 x 4 x € 65 project management
€ 1.000 monthly hosting
€ 600 setup hosting

total € 13.100 excluding V.A.T.
This is not realistic, creating an application in 5 days programming is NOT possible.

My conclusion is that Mirabeu is right.
Please let me know what you think, and what your function is, developer or client.