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Soundwave said:
All hardware eventually gets more expensive over time anyway due to inflation.

The PS4's $399.99 is the equivalent to the PS1 launching at $299.99.

Consumer Price Index (CPI) inflation, what is used to calculate inflation in the US, is not a good way to calculate what past consoles would cost today because videogame consoles are not heavily weighed on the CPI table.

Bill of materials is better way to calculate what a console should cost.  

The PS1 cost $299 at launch but less than 7 years later it was reduced to $49, I don't see the PS4 hitting the $65-75 price range in 2020 which would be the inflation equivalent in 2020.