We have been hearing rumors of Mbappe joining Real Madrid for the past 3/4 seasons. But that didn't actually happen. PSG has made lucrative offers for Mbappe every season since Mbappe extended his contract with PSG. There is no guarantee that Mbappe will not do the same in the future. Real Madrid should definitely look for another striker. If Real Madrid are hoping to sign Mbappe and don't add an experienced striker to replace Benzema next season, they will be making a big mistake. If they don't find a suitable replacement for Benzema, Madrid won't win a single title next season.
Real Madrid don't dare to spend that much on a player, especially when it's close to $200M. Mbappe is definitely a player who deserves to be valued so highly by PSG for his quality and abilities as a striker, but whenever Real Madrid are rumored with him, Real Madrid tend to expect him for free. I'm just wondering if Real Madrid have offered more than $100M for Mbappe in recent seasons?
If Mbappe is deemed suitable for Real Madrid as a replacement for Benzema next season, then Real Madrid need not be afraid to spend a lot of money to make this happen. Instead of paying Dortmund too much for a move for Bellingham, I think it would be much better to sign Mbappe for €180 million as a striker.
I somewhat agree with you. Bellingham is better off signing Mbappe without spending a lot of money. But the problem is that Real Madrid now needs both Bellingham and Mbappe. Madrid needs Mbappe as Benzema's replacement. Madrid, on the other hand, needs Bellingham as a replacement for Luka Modric. Both Modric and Benzema were Madrid's most important players. And so it is possible that Real Madrid wants to sign Bellingham by spending a lot of money. Because Dortmund won't let Bellingham go as a free agent. On the other hand, Madrid is interested in signing Mbappe as a free agent next season.