NVIDIA and AMD don't even make new GPU silicon this low-end. Their smallest current-gen GPUs all debuted at higher price points, though the Radeon RX 7600 is now available at the same price that the B580 is launching at.
I was watching a few of the preliminary commentaries on the Battlemage cards, e.g. Linus Tech Tips and so on, and they said the same thing "focus on the low/mid-end". My conclusion is that what they are talking about is "low end, brand new, current gen. graphics card". It's a very special type of low end.
The Intel cards are getting more interesting for me as I'm questioning my continued use of macOS. Intels focus on Linux support makes their options really interesting, though I don't see a need for something as powerful as these new cards.
Although there are some less powerful cards (the Intel A310/A380s are available for ~$100 and would be fine as basic display adapters w/ good video engines) if you go lower end, modern iGPUs are generally good enough for anything below the $200 level, hence why enthusiast sites (focused on DIY) consider that "low end" these days.
The Radeon 780M on Ryzen APUs can power 1080P gaming, and output to 3-4 4K/8K displays (the latest Intel Xe iGPUs are about on par, but generally pricier). A Ryzen 5700G goes for about $150 (or a 5600G for closer to $100), or you can get entire Ryzen 7840HS minipcs w/ 32GB RAM for $400-500).
Hm, i wouldn't consider 200$ low end.