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The Scorpio is not going to be 399 as it's a premium product that fills a niche. It won't have the volume to be profitable at 399. The ps5 won't have that problem as it will be the new standard console and can afford to start with a slight loss again as those early adopters are guaranteed to by a few games and/or extra controllers with the system.

The big upgrades will come from the next die shrink, new cpu perhaps 16 core, at least 16GB of hbm2 or better, plus SSD should be cheap enough by then to include in a console.