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I reckon Sony had other plans for the PS4 but the pandemic happened and with it, the semiconductors problems.

For the first time in many many years, there weren’t any Black Friday deals for Sony/MS consoles, the stock for PS4/Xbone was pretty low and they sold them for $299/399 (PS4) and $299 for the Xbone.

All of that basically signs that MS and Sony prioritised the production of their new consoles.

It could reach 120M but they need to solve the semiconductors problems first and then see if a price cut is possible. The system is still priced $299/399 after 8 years and with extremely low stock produced.