Firstly I assume that 208 was a typo and you meant to say 308mm2. But yes you are right, but I would hike the price up a bit, as AMD surely would be making some profit on top each APU they sell to Sony. Cause that is what everyone seems to be forgetting. Sony, is buying their chips from AMD... not from TSMC. Hence, a 308mm2 N7 chip while costing AMD ~$60, will cost sony around $80-$120 to get from AMD. Price would be lower depending on the volume of chips ordered. So for Sony, that would likely mean it cost them $80-$100/chip. Let's just call it $90.
So its safe to say that the PS5pro chip can cost Sony anywhere between $130-$140.
Even though the RAM in the PS5pro is faster, its still GDDR6. And what people tend to overlook, is that both 14Gbs and 16Gbs GDDR6 chips, are identical. There is really not a single thing different in them. In both cases, PAM2 encoding is used. Only difference is how much power is used to drive the chip (and in turn, which chips are better suited to maintain the higher power draw, chips that cant take in enough power to be 16Gbs+, will be sold for less as 14Gbs chips). Only when we go to GDDR6X, do we start seeing differences (uses PAM4).
Anyways, furthermore, as at the time the PS5 launched, 1GB of GDDR6 was around $8 in spot pricing. Now, its around $3.50. This means that in 2020, 16GB of GDDR6 would have cost Sony around $120. This year, it would cost them $56. Even if going for the best GDDR6 chips they can muster, that wouldn't put RAM costs past $60.
So, between the APU and RAM, they are already (only) at $200.
This is why I find it funny when I see people talk about $599 prices. Because Sony "can" and does sell the current PS5 for $399/$499... it doesn't mean they are not making a decent profit on them, or that that is the same kinda pricing strategy they would use with the PS5pro.