Series X being stronger than PS5 and having a disc would be a very strong match and better proposition for anyone that isn`t a fan of Sony first party titles, and Lockhart being a full 200 cheaper and still offering next gen game (with PS4 at the same price). Would be a big mistake from Sony, and I believe after PS3 they saw that they are strong, but aren`t alone in the market.
Let's be honest here, 90% of the sales of the first 6-10M units re going to be from fans. basically people that were going to get whichever console they bought regardless barring any kinda monumental fuck ups.
Also, Lockhart is most likely also not going to have a disc drive. So its a $299 4TF digital console vs a $399 (most likely) 10TF digital console. Early adopters aren't stupid, and as the saying goes, whoever gets to 10M first wins.