You realise this happens with products more expensive than consoles right?
Like Samsung did it in August with the announcement of the S7 (not just price and launch), cheapest model was $649. And seems they didn't have any issues selling it.
We've known about these consoles for over a year now. Ppl will be financially ok to be part of the launch quite easily.
Phones are obtained free through contract deals by the majority of people so you're not paying the full cost up front that's not a good comparison as you cover the costs in your service subscription over two years.