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With inflation $400 in 2020 will be quite cheap for a powerful next gen console. I think they they'll be able to sell their PS5 maybe $450 thanks to their mid-gen console.

If they make a $400 box in 2020, it won't be an impressive console. Less impressive than PS4 at launch, similar in specs to what XB1 was at launch.. And Microsoft won't be afraid to release a much more powerful console, like they did with the X.