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Bad comparison. In last gen $199 was the sweet spot but in this gen $299 is the sweet spot.

TV sets and PCs have dropped in price in the last decade but for some other electronics devices people are willing to pay a lot more money nowadays because it gets them higher value.

5 years ago people bought mobile phones for perhaps $100-$200, now they are willing to get one for $450-600.

Gaming is more important to people now than in last gen so they are willing to pay more and u get movies and other features on your consoles now, u get the whole online experience, longer life-span etc.

In last gen a console was seen as a toy. Nowadays it's seen as an essential entertainment device.