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Over 80% of people who bought a console in the previous generation paid less than $200; and when the previous generation's consoles were 4 or 5 years old people were paying $150 (or less) for their console and getting multiple games with it. Certainly, inflation, technology and features may make people far more willing to pay more for a console today but $300 is still expensive for most customers; and if the system is lacking a major feature they desire (like backwards compatibility) it might be too expensive for these gamers to be willing to spend.