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$600 seems too high. It's a far cry from a company that once toothed with the idea of offering console for free and make money back with software.
But who knows, right now, Microsoft strategy place the Xbox hardware only as an option to be a part of Microsoft ecosystem. While console sales are still essential to this, selling more than competition is not so it's possible that Microsoft decide not to take a loss on each sales. Even then $600 seems a stretch as it place the series X well within profit area from the get go.
I sure hope for a $500 price tag as it would mean 600$ CAD (same as Xbox one X was)
If they go with $600 tough, it would probably mean $800 CAD (At this price point I'll pass for sure).