MS seems to be skipping ahead three years, instead of launching with only a weaksauce base model console. The Series X is basically the mid gen upgrade that we would have gotten in 2023. Lockheart seems to be the weaksauce base model system. I hope the PS5 is basically the PS5 Pro from 2023 for $100 less than whatever Series X is, and with no weaksauce base model 2nd SKU in sight.
So if Series X is $500 at 2080 level graphics, then PS5 should be $400 at 2070 Super level graphics. If Series X is $600, then PS5 should be $500, and so on, and so forth.