I find it absolutely fascinating that people that would generally be very fast on pointing out Sonys poor financial situation, now seriously call them arrogant for not jumping the gun and cutting the price of the PS4 to react to a temporary X1 price cut. I don't know, I'd call that business sense.
How long did it take MS to get the price of the X1 down to the actual permanent price of the PS4? 7 months?
You don't just make decision like that in the heat of the moment. Also it's not like the PS4 did poorly or anything, this November is already better than all but one November the PS3 ever had.