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Sony doesn't subsidize hardware anymore anyway, not nearly to the extent of the past.

PS6 Pro is sold at a profit for sure and they don't take any big losses on PS5 hardware (although it's stubbornly not going down in price for them either, which is a problem).

The days of anyone taking like $50-$100 losses per hardware unit are long over. You can't do that when the games cost a fortune to make and take like 6-8 years to develop (meaning no profit can be turned on all the money sunk into software development for much longer periods of time ... imagine you once got paid a monthly paycheque as is normal, but that suddenly became getting paid once every 6-7 months).