I doubt it. Prices will always fluctuate a little, right now the 7600k is going for $235-240. It might go on sale from time to time for $220-230 but nothing massive or different from what i5's have done the past several years. The r5 1600x is going for $250-270 and outside of a handful of instances like blender or handbrake encoding that utilize high core counts it struggles to meet i5 performance and in many of the benchmarks fell behind.
It doesn't mean the i5 is awful, if someone does a fair amount of handbrake encoding then it makes more sense. It doesn't drop behind the i5 a ton in games like fx chips did but given it's more expensive I don't see the i5's price dropping. Yes there are less expensive r5 1400 for $170 or 1500x for $190 but there's also the i5 7500 for $200 and the 7400 for $190. Right now they're pretty competitive, each with their strengths over the other for similar prices. No major push for intel to drop prices.
It usually doesn't apply to gamers since they use a dedicated gpu anyway but for those who do more basic tasks or just looking to surf the web, watch youtube etc or for office work, the i5's have a built in gpu and ryzen doesn't. Any cost savings would be shot since a dedicated gpu can't really be had for $10-20. Even a low end card like a gt710 or hd 5450 is going to add $35-40 to the cost.