I would agree if Scarlett were releasing this year. Since it's releasing next year, Microsoft is mostly out of the console business until late 2020. Sony kind of made the same mistake though. PS4 sales are plummeting.
The PS4 has been doing just fine - keeping pace worldwide with the Switch in it's 6th year. I think people are severely underestimating the power of a permanent PS4 price drop - which I think is coming real soon just in time for the holidays. Look at what the PS4 just did on Prime Day - all models lit up the Amazon charts. When the PS4 was $199 the previous 2 Black Fridays - Sony couldn't ship enough to keep up with demand. If they stock up this holiday season, have a decent bundle (God of War, Spider-Man, Horizon: Zero Dawn combos) - along with an extended $199 price point - it will sell boatloads in Q4 all the way through to PS5 release.