Sounds like the Series X will be more expensive than the PS5.
Hopefully MS is smart and aims for a $50 gap then. XB1 X vs PS4 Pro already proved that selling a more powerful console for $100 more does not equal a sales victory for Microsoft.
Personally, if it were just XBSX vs PS5, being more expensive at any amount is no good for MS, unless there is some major giant gap, whether it be GPU TF or whatever.
It's even worse if PS5 aimed for $499 and is doing everything it can to launch at that price. People have made it clear that for the most part, a single SKU above $499 is too much for the majority. A $549 XBSX in this case is a bigger problem then many may think.
The smarter idea in this case, is to clearly crush PS5 specs with XBSX, but keep it $100 more at $599, but have Lockhart at $399 and make sure it's darn worth it and can certainly be considered next gen. This way people who choose to buy a next gen XB, can have their next gen experience with either SKU, but the Lockhart owners actually get the best deal in the end since the games will focus more on their console than the XBSX.
PS5 in this case, is basically stuck at $499, unless PS really wants to get aggressive and drop $50 to $449, but that's unlikely in the first or maybe even second year.
If you drop all the prices here by $100, then Lockhart is a tougher sell as it will be borderline next gen at best, PS5 will be sitting in the sweet spot, and XBSX will be at $499 like XB1X and XB1 were. The more expensive the consoles end up being, to a certain extent, the better this strategy for MS would be.
All of this kinda backfires on MS as well, if XBSX is an over the top $599 console, and PS5 is a little more tame than we think, and lands at $399. If both PS5 and Lockhart are similar consoles at similar prices, XBSX is screwed if it's too much power. This would be a really odd turn of events, considering some are worried that Lockhart would be out of place.