There are still many possibilities, but I agree if PSG have to lower transfer fee that man because the price now is not very possible for Real Madrid to sign him. Although Real Madrid has a lot of money, but the previous Bellingham transfer fee may have burden their finances. Actually, if another club brave to recruit Mbappe at current prices then PSG will be ready to let him go, if that happens Real Madrid will wait again to sign that man.
After all, Real Madrid wouldn't make a hasty decision if the transfer fee wasn't so reasonable for them for a player. And while waiting for the transfer fee to be lowered for Mbappe, Real Madrid can also monitor other players to get them if they really can't get Mbappe in the current transfer market. And which teams are starting to be interested in Mbappe apart from Real Madrid? Because a good player like Mbappe will usually be in greater demand by many teams if the price is not too high.
Real Madrid do not want to fall into the same financial crisis as Barcelona. And so we have seen in the last few years that Real Madrid management is very conscious of spending money. They do enough reviews and then hire or spend money on teams of players. It is still unknown what Madrid will decide on Mbappe. They want Mbappe in the team. But we don't know how much money they would be willing to spend on Mbappe. Moreover, even though Mbappe can score a lot of goals, he plays like a selfish one. This is the complete opposite of Madrid's gameplay. Perhaps Madrid coach Ancelotti will also consider this aspect before bringing Mbappe to the team at a high price.