Since you ask - I grant you the 128GB should cost more than the 32GB but Google has 128GB Pixel XL priced same as Note 7. So for me the equation to resolve is:
Pixel XL (128GB) without S-Pen == Note7 with 64GB and expandable with external SD.
It does not work for me maybe because I have quantities of high performance micro SD cards in 32GB, 64Gb and 128GB denominations sitting in my storage bin.
I have enormous respect for Google and the designers there. But their decision to drop the external storage is a head scratcher, more so after Samsung's experience with Note5 and criticism they faced.