The main problem here that I can see is, every time sony tiried to sell hardware thats either too expensive or sells at a loss, failed. thats the case with the ps3(they recoverd, sure, but thats after they did drastic measures to bring the price down like cutting entier BC chips) or the vita (vita and 3ds were overpriced for the market, but the 3ds had a tonn of headroom to cut prices while the vita literally couldn't do so)...
if MS comes out with both a cheaper and a more expensive option, sony becomes trapped between a powerful console quality handheld with enough specs to satisfy japanese devs, a cheap home console, and a ore powerful one, with no obvious way out.
I do wonder how much price will come into play this gen. How many people are willing to leave their trophies and friends behind on the Sony ecosystem over $50-$100 bucks? Especially when MS did so poorly with exclusives this gen. Sure they got a bunch of new studios and the plan is to turn it around but how many consumers are going to take that gamble over Sony who's already proven they can do it.
MS was hurt by the higher price but I think it was everything that MS did that gen that affected them. I know I left the xbox ecosystem because of the lack of support 360 was receiving towards the end of the gen. Sony was still getting games and I made note of that. Add in everything xbox did during the reveal, weaker console, higher price it was to much for MS to recover from. I know for a fact I wont be going to back to xbox ecosytem over $50-$100 especially if it involves me getting weaker hardware on top of it. I want good games and until MS can prove they can deliver that I have no interest in going back to that ecosystem.