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Ultimately, the consumer market determines the value of a given product, at least as far as what they're willing to pay for it when supply is widely available and competing products are being made.

One could easily dismiss this by saying that the XB1 was simply overpriced in the UK.

But the statement won't hold up well if we start seeing price cuts across all regions before MS has the opportunity to package cheaper SKUs or redesign the console with lower production costs.