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It will.
It may not hurt HW at launch, but there`s the risk that it will hurt on the SW side. 400$ is still an high price to pay for a console and then comes the SW spending.
During BF and Christmas, many stores will likely choose the PS3 version of X game to lower price as to also attract the PS3-only userbase, leavin less sales for PS4 SW.

Not only that, but seeing as most titles will also come out on PS3, 400$ is an expensive price to pay for only a few exclusives. Also, even those exclusives aren`t the top franchises, the system sellers.