The price of an app < 10K

A tweet by a friend of mine Karel Kolb 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.