It'll be very interesting. The PS4 is still $299, but the Pro is going to be $349 (which I'm guessing will be it permanent price later this year.) If the XBO can't win June with a $199 XBO, that will be a piss poor showing.
It is amazing to me that they're still able to sell PS4s at $299. I have to think that most are purchased on sale, or at least in a bundle. There is no way in hell that I would spend that on a base system at this point in the generation.