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I don't see why they would cut the price. They are still outselling the competition and even in the months where the Xbox One was able to compete sales wise the PS4 was still selling quite well. With Sony's current financial situation, I think they are more likely to give up a small % of their market share this fall to ensure that the console stays profitable, similar to what Nintendo has been doing just to a lesser degree.

I think it's possible we see another big bundle like the GTA/LoU one, possibly with a temporary price cut but I don't see it going down to $300 unless MS decides to reduce their price even more.