This price drop is significant. For For comparison, GPT-4o is currently $5/million input and $15/million output and Claude 3.5 Sonnet is $3/million input and $15/million output. Gemini 1.5 Pro was already the cheapest of the frontier models and now it's even cheaper.
GPT-4o is 2.5/10$. Unless you look at an old checkpoint. GPT-4o was the cheapest frontier model before.
No wait, correction: That’s confusing: it lists 4o first and then lists gpt-4o-2024-08-06 as $2.50/$10.