Not really. MS are not going to beat PS4.
If you want to talk simply of power, PS5 will be out within two years. Scorpio irrelevant already, would love MS to release another two years later, will be a lot of pissed scorpio purchasers

Don't think so, especially if Sony decides to cut the price and/or bundle a game with the Pro later this year. The reason why power gap between the base PS4 and XB1 was given attention at the beginning of the gen was because the former was more powerful and more affordable.

I think people only look at the launch PS4 numbers and have not looked at recent numbers on the slim. The Slim uses significantly less power than the day one model, and even the 1200 model had a decent size reduction in power use, without a shrink in the APU. Actually PS4 Slim only draws a maximum of 86 Watts in the most load heavy situation, with the front end at 47W and 4 player split screen on Rocket League taking 63W. 

There are already rumors of an even slimmer PS4, and it would make sense that this would have an even lower power draw than the current slim. As times goes on, everything in the system shrinks, and in some cases, things can be eliminated, and their operation can be picked up by other components at a cheaper cost powerwise and monetarly.

It is very possible for Sony to rework that PS4 into a portable if they want to. They can customize the components to reach the power levels they need. It would definitly be harder right now, but they could always be looking at 12 or 10nm options, which will be available sooner, and make it easier. Once the reach 7nm, I have no doubt they can pull it off. Even under the current curve they would be looking at just over 40Watts in the worst scenario at 7nm. That can easily be ironeed out if they are focusing on a portabe design.

As far as cost is concerened, I think it is all about making a profit, and less about massive market penitration. If it has to cost $499.99, to make it viable, then that is what it should be. Though I don't think it will be that bad. Samsung expects the price of NAND based memory to drop below traditional drives $/GB by 2020, and that would be the single most expensive component. I think if they launched this year it would be $399.99. As long as they give it 4G and Calling/Texting it will be worth $800 to me, because it will be a smatphone on steroids.

http://www.eurogamer.net/articles/digitalfoundry-2016-hands-on-with-the-playstation-4-slim-cuh-2000

Scorpio is a reaction to this entire gen.

Alot more news is coming. This is just the start.

When you have the first party powerhouse that PS4 has, it doesn't matter anymore. In no way or shape can MS do anything that can hurt PS at this point, unless Sony messes up badly. Only depends on Sony's mistakes at this point.

I suggest never buying a console because more power is always just a few years away...

We don't even know if PS5 will be a massive upgrade over Scropio. PS4 Pro wasn't a huge upgrade and that was 3 years after PS4.

If Sony wants to keep selling their consoles at a profit, what they can do at $399 is limited. The general feeling is Scropio will be above $399.

The power narrative is less important than the price narrative. It is probably a safe assumption that the Pro will be at least $100 cheaper than Scorpio when Scorpio launches. And given most people still don't have 4K TVs MS is somewhat ahead of the curve there is no need to put out a more powerful console just yet. By the time the next PS iteration comes along 4K will be more prevalent and Sony will have more power at a time when component prices have come down a decent amount.

Don't worry. PS4 Pro Pro will eat Scorpio.

Sales will tell for sure, but from past record, console manufacturers get more success if they mostly try and follow their schedule without chasing competitors in every step.
BTW, mid-life improvements always end up being underused, as games must still be compatible with the base model, so some extra graphics power, extra non-gaming features, faster loading and higher framerate are always welcome, but any console will better have the essential things, or what the console maker thinks that will become essential, since the start.
WiiMote Plus higher precision motion tracking received minimal and almost exclusively first party SW support, and Wii missed the full use of a natural development of motion control that could have extended its life and possibly could have caused the birth of hardcore motion control gaming too, and this extra life for Wii could have allowed Ninty to plan better Wii U release, without rushing it.

With the way things are currently going, next gen starts with PS5.