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If they launch a low tier PS5, people would demand that runs all the games that the high end does, hence being a bottleneck in the developement of the high end ps5. The only difference the machines can have is the GPU. CPU and Ram should be the same, and the low tier one would have a lower Teraflop or bandwith gpu with less memory. Both would have to run the same games for 7 years at least. Still I don't believe they would do such a thing.