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I think the reason that the PS3 -> PS4 jump wasn't that great was due to the fact that Sony released the PS3 at $599 (and wasn't that at a loss of $150 per box initially?), compared to the PS4 which launched at $399, and was supposedly estimated to cost $381 at launch, according to enGadget.

An extra $100 investment on the internals of the system at launch could go a long way into making a better console in the long run. Now I'm not sure whether or not it's a good idea in terms of profitability and sales, but for me personally, $1000 could disappear from my bank and I probably wouldn't even notice, so I'm all for Sony making the best console they can afford.

Source: https://www.engadget.com/2013/11/19/ps4-costs-381-to-make-according-to-hardware-teardown/