It makes more sense to cut the price when microsoft are going ham during the holidays, steal some sales get in the news etc. 

It was 1/3 (33%) who didn't own a PS3 last time they talked about it so it's huge increase.

PS4 don't need a price cut. It's the best selling console everywhere (except Japan).

They could announce a worldwide price cut at their European press conference in October (Paris Games Week) to get a double boost up 'til Christmas.

Tell me why should they?

They beat Microsoft in their hometown with their launch price while the X1 had like 5 Pricecuts,limited ultra promotion deals,still sells the mega omega limited AssaCreed Bundle from the Last Holidays in damn JUNE and already droped their super awesome Kinect 2.
Best buy has all the time 175$ Trade in deals for the X1 if you want to get rid of your PS360.

In Europe there is even less reason to
Just look at the Spain Numbers...9:1...Germany,Italy and so on are in the same direction while the PS4 is still at its launch price and the X1 went down to 350 and now 300€ with games.

Sony wants to make as much money as they can from their beasting Product
They can finish Xbox off whenever they want especially after looking how E3 boosted the interest in the PS4 again into new heights.

Sony said they got surprised by the aggressive deals of MS last year for the Holidays
They didn't expect such desperation
And just look at the AssaCreed Bundle - Amazon is still selling it cause it was so limited.
MS overshipped so hard just to fake better numbers for the US
Sony said they won't let MS have it that easy again - They know now MS is on "ONLY MURRICA COUNTS" mode and only cares about 2 months of the year.
They will counter it even though probably not at the expense of losing to much profit just to win NPD.
They still win in those 2 months 5:1 or so cause of Worldwide.

That and so much cross gen titles until now. All these announcements of not cross gen titles give a pretty good reason to upgrade right now, without a price cut.

Before that ps3 still had a lot of games coming (and still this holyday actually).

PS4 sells on hype. I bought mine on hype. It also doesn't help that the Xbone had bad PR at launch and every new feature they add gets downplayed. The magic of PR...

Millions of people will be using BC on X1, especially since it gives access to digital content. Its not niche and will bolster the library quickly.

People were hyped about PS Now because they thought they would have access to their digital content or atleast the ability to have unlimited access for a small fee. And like I pointed out that hype died because its a rental service. You could buy old PS3 games in the bargain bins or internet instead.

Okay maybe they dont "need" to do it.... but it would be cool right? would probably generate a huge sales spike.
Would be fun to see what a month like that ended up looking like, sales wise.

I upgraded from the PS3. Played all the Uncharted games. Still getting the remaster!

I'm part of the 60% and I'm getting it because I didn't play U1 and U3.