The problem is that it's always more expensive to run separate fabs even on the same process tech (this is why Intel and AMD sell the same CPUs cut into various models with lasers rather than run separate batches of each).
With something as basic as a handheld, it's not too horrendous, particularly when you're dealing with fairly tiny processors.
With the fairly large APUs (in die space), it's pretty expensive and the newer process techs have waiting lists from around the tech industry (MS, Sony, Nintendo, AMD, nVidia, etc). Only Intel, Samsung, and a few other unique players can skip dealing with either GloFlo or TSMC for competitive ICs on new die techs (and even then, they've been a gen+ behind Intel for years now).
So yes, running two PS4s, to say nothing of the different ram sourcing, etc, would most likely cost more than producing just the Neo. We're not talking plugging in a different hdd, but new mobo revision, separate assembly lines, QA, all that sourcing, it's really complex.
Sony would be more profitable selling just a Neo @ $349 than selling Basic @ $299 and Neo @ $399 assuming the split is 50/50, because the average cost of production would be higher.
What is much more likely is that production of standard PS4s has either already ended, or is already slated to end when supplier contracts are met, existing materials stockpiled for the standard model are exhausted, etc, some combination thereof.
It goes without saying that this is the last thing any console mfg ever wants discussed in advance, instead waiting until the last minute to 'diskinect' that model from existence.
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