They probably would have sold a few 100k units in the US and Japan during launch, but after that sales would have completely died. I don't think they would have gotten to 2M units WW yet and the last few months forum threads would have been labeled as "Gamecube outsold PS3 again!" Besides software sales of the PS3 would have probably been lowered by 50% as well, so Sony would have lost quite some money on that side as well, not to mention not a single publisher announcing new PS3 games and any previous announced PS3 game would have gone multiplatform, going to another platform altogether or being postponed for a long time until PS3 will have a normal price point. Also PS3 would not have been a cheap BluRay alternative, so it wouldn't have supported Sony on the BluRay front.
Besides, consumers are not stupid. Just making it expensive doesn't automatically makes something special. Certainly not when the games released show no sign of having better graphics than XBox 360 which would be 60% cheaper!
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