I'm only expecting a temporary cut during the holidays so the PS4 doesn't get slaughtered in terms of sales during the holidays in the US, with it only being temporary because the PS4 is still steadily outselling the XB1. There's no need to permanently cut price if sales are good and you're the leading console in sales on a monthly basis.
The XB1 outsold the PS4 by 400k during the November NPD and 225k in December, I doubt Sony wants a repeat of that.
Also I'm expecting another $50 cut to $300 this holiday for XB1 and an additional $20 cut to $280 during Black Friday with heavy bundling during the holiday, that strategy worked well for Microsoft as I already said above.