If you only look at the financial side, I'd agree. If you added that a good portion of that should be in cash, and to have a few weeks of fresh water and long shelf-live food stored at your house, I'm pretty sure the majority in Germany would call that person a prepper, even though having two weeks of everything required is in the government's guidelines. It's just that we've gone so long without a major interruption that it seems silly to most people.

An aside: in Germany, “Hamstern” = stocking up on excessively large amounts of something that is feared to be in short supply thereafter, although it can carry negative connotation, as a selfish refusal to share with others (when I lived in Germany, I was always struck by people's general politeness and generosity, so hoarding for no reason would be frowned upon). Also, “Hamsterkäufe” refers to purchases made out of fear of a future shortage.

Wow, 2 weeks of water is about 20 liters per person! That's a lot of water to have sitting around. Two weeks of food is kind of easy if you shop at Costco :)

Army surplus water canisters are cheap and hold 20l each without taking much space. With water tablets for RVs the water can sit for 6 months.

Or if you use bottled water anyways just keep a larger stash that you rotate through. Less work, but takes a bit more space