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Sephiran said:

Sony knows they can raise the price because unlike Nintendo, PS sales never fluctuate, the same people will always buy the next PS console, Nintendo on the other hand actually fluctuates greatly from one generation to the next when it comes to console sales, showing that ''Nintendo fanboys'' doesn't really exist, while PS is built on having the biggest fanboys that has ever existed in gaming.

PSP > Vita and PS2 > PS3 might disagree with this assertion! 

The point of Playstation sales being stable is because Sony is always capturing other consoles market share

First SEGA and Nintendo, now it's Xbox. Have you seen Xbox Series sales lately? They have been significantly down 

In 2023 30% of PS5 active accounts were new accounts: https://www.vgchartz.com/article/456194/sony-nearly-30-of-ps5-monthly-active-users-never-used-a-ps4/

Of course, this includes people who create new accounts as well, but anybody with a digital library will try to keep their old accounts to have access to their PS4 games