That was the standard.
PS4 was the first time they were able to break even at launch with only a game plus PS+ subs. And in like 1 year were already breaking even on the HW alone.
No doubt that, both sony and ms will take losses with their next consoles for at least 2 years. MS can take such losses easily, but for Sony which depends a lot on their gaming department, it will be a heavier task.