Sony doesn't want to take as big of a hit like they did with the PS3 at launch. If the rumor is true that the parts for the PS5 are $450 it will likely cost Sony closer to $500 per console when you add in manufacturing and shipping costs. Plus retailers take a small cut per console sold. I'm guessing either $449 or $499 at launch, with the Xbox Series X launching at the same price to match.
This is what I'm expecting as well. Which is an incredible value for what the XSX is providing when it comes to hardware. Their RT solution is amazing. If they are able to bring games a long with that they are going to have a very nice next gen. Also interested to see how BC effects sales this year. Might put a lot of people in a position where they are unwilling to leave their current environment. I didn't even want to leave the MS environment because of my trophies but they forced my hand.