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teigaga said:

This is interesting but doesn't change the point. Why didn't people buy both systems since the Gamecube was so cheap? The truth is once people have one gaming system they're quite content with that for the rest of the generation. Even if an NX undercuts the PS4 in price, it'll likely be a similar position to the gamecube but even worse considering PS2 only had 1 year advantage instead of 3.

The PS2 sold ~81.89 Million units after it had a price cut to $149 (more than half it's sales), so it was cheap in its own right.  It also had a lot of games and capabilities to satisfy most.  That generation likely had the least multi-console owners just by looking at the dominance of the PS2, but when both the Wii and PS3/X360 succeeded multi-console ownership probably increased a lot too.

The introduction of intermittent consoles like PS4 pro and looming Scorpio is likely shake up the traditional console cycle anyways and might influence a change in buying patterns.  If the NX can somehow entice people with something compelling when people are looking at new hardware then they might have a chance.