It's low compared to Apple (which is the only comparison I'm making).
The cheapest I can find that is comparable is an M1 Macbook Air which, for the same price point, comes with 16gb RAM + 256gb storage, or an M2 Macbook Pro w/ 8gb RAM.
"Insanely low" is definitely an exaggeration but in the modern day this just seems pretty reasonable for what appears to be decent specs - plus I just really like Framework's model.