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No, Microsoft made the claim that they would manufacture at a 4 to 1 ratio at first. I think it was some Sony executive back sometime in August or September 2006 who said they'd manufacture PS3 at a 9 to 1 ratio (that's actually when I lost faith in PS3 replicating PS2 as I believed that $500 was just about this side of acceptable, but a $600 nominal tag pushed it over the edge).

 

Personally I feel Sony poorly communicated the $500 PS3 to the public, partly on purpose (they get to say it's $500 while trying to get people to forget it exists), and that a lot of the pressure to drop it came from retailers, not from end consumers.