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Eight years of 2% inflation in the US would make a $399 value in 2013 be close to $480 in 2021.

https://inflationcalculator.mes.fm/?gclid=CNCa2JWupNMCFYEfhgodWWQItw

The US personal and household income are also pointing up since the beginning fo the decade.

A $499 price by 2020 is not that much more than the PS1 costed when launched in 1995.