I would not be surprised, afterall sony said it themselves: they had trouble keeping up with the demand in europe. so that says a lot, and they even opened new factories to start producing PS4s before the holidays, and still had trouble.
from a financial and competitor standpoint they did not need the price drop. more profits, while still outselling the closest competitor 2:1 worldwide and having close sales in NA to the competitors. So it was never threatened.
from a production standpoint they could not allow the price drop otherwise it would get sold out in matters of seconds, they needed to last the holidays. otherwise they would have had the same problem they faced in the holiday 2013 where they were sold out for almost 2 months.