I think Real Madrid has enough experience when we are talking about players trying to negotiate better deals constantly.
But from a general perspective I think it is sad that a player like Mbappe does not play for a club like Real Madrid. We as fans would enjoy to see him playing for them. It's a waste right now. Imagine Haaland would play in Saudi Arabia. We would be shocked. PSG is not that bad, but it is still an inferior league where a talent like Mbappe is wasting his time. But yes, he is rich for sure.

I don't know why I really believe that one day Mbappe will play for the Real Madrid team, the best player in the world will play for the best team in the world, we just need to wait for the time, Mbappe is still very young and his time will still be very long.
And this season the Real Madrid team is really not looking for a star striker to replace the position left by Benzem, they really seem to be waiting for Mbappe.
This is actually possible to happen and I think next season it can also happen if Madrid is ready with a big offer again for a Mbappe because seeing from the current conditions that occur even though Mbappe and PSG extend the contract but this is just a formality so that PSG does not lose their money and Mbappe can leave but not for free.
On the other hand, actually seeing from the strength of money at this time Madrid can still compete especially seeing from a financial point of view in Europe at this time only Manchester City and Newcastle from the EPL might have a chance when talking about money.
Manchester City already have Haaland and I don't really think about Newcastle because they realize Mbappe will think several times about this so Madrid is a strong candidate in the end.