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If PS5 is going to have limited supply, which also makes me assume the same will be true for XBSX and Lockhart if it hits the market, then depending on how long those shortages are going to last, I can see SNY just saying screw it and launching at $499 with XBSX.

SNY is going to run out of PS5's consistently, even at $499 and if the lock down's continue for a while. If unit shortages are going to be the norm for them for maybe 6 months time, they might as well charge $500 per until holiday 2021. If you can't make money on volume, you make it up per unit in this case.

I do think this would give up some early sales to MS, but if SNY can't keep shelves stocked with PS5's, then there isn't much they can do anyway, other than keep people busy on current gen, or sell them even cheaper last gen consoles after next gen launch.

I'd guess if PS4 and Pro price drops are incoming, that they will happen at the same time as the XB digital E3 events. That's how PS likes to roll.