Why would Sony announce a $50 price cut in an European event?

To answer your first question, no. I personally believe they skipped Gamescom this year was that the Paris Game Show will most likely be a bigger turnout this year. Add Battlefront and Black Ops III and you have to feel very elated to go into the near end of October.

For your second question, I would say $50. No reason to sell the PS4 at a loss by under cutting it to $100. Furthermore, doing so shall fire up the engines for the holiday season; doubly so since marketing should be rampant by then.

It's pretty simple. Sony moved to PGW because it was closer to the busiest and most important time of the year. There is no mystery to that. They've said as much and it makes plenty of sense.

Moving because of Halo 5, however, makes little sense. If they wanted to combat Halo, they would make an announcement before Halo released. What difference is having a conference on the same date going to make? Millions of people will already be getting their pre-orders in the mail or picking them up from the store before the conference even starts.

No

Bolded: This.

The 2nd part, doesn't really make sense, Sony didn't decide when PGW happens.  I think it also has to do with them having a few local (To France) studios with IP that's ready to be shown.  And MM's title is really artsy, too.

I got a real kick out of that, thank you good sir.

PS4 is not getting a price cut....... Their will be some retailer deals though. There IS 0 reason for Sony to cut the price

.

Thr press conference has nothing to do with Halo 5.Sony is not concerned with MS like MS is concerned with Sony.

I think there is absolutely good reason to cut the price. The fact that Xbox One and WiiU haven't been as successful as the $399 PS4 doesn't mean that it's a good idea to ride launch MSRP too far. Losing momentum and failing to greatly expand the sales base (as well as ceding a certain % of customers to the cheaper X1, a number impossible to quantify fully, but also impossible to completely deny) are not things worth risking.

$349 reinvigorates the PS4's momentum, and sales should be higher by enough of a % vs. staying at $399 that the difference in the initial console sales revenue would more than be made up for in PSN, Game, and Accessory sales within the first year.

It's not always about merely beating competitors, it's much more important to have a successful product for the long term.

If a $349 PS4 is more profitable over the next year than a $399 PS4 (quantifying the deeper sales that each PS4 in the wild generates) due to higher sales trajectory, then that makes perfect sense.