Wrong, there is no way the series X will be 500, I can bet you on that.

Xbox will have another cheaper model that will be cheaper than the ps5.

If major depression or recession flares up from all this mess then only early adopters would be able to afford a console starting at 500. They said pandemic wasn't going to affect their launch but it obviously already is. If the pandemic gets worse or flares up again then expect decent launch sales then Wii U like sales in the beginning of next year.  You can't sell expensive systems to poor or dead people.

Despite the promotions and sales plus Black Friday, it's way past time for a permanent price cut for the PS4 Slim and PS4 Pro. You can't justify charging $400 for the PS4 Pro when the PS5 will likely be $500-$600.
The PS5 launch will likely be very messy, as there will be shortages. But Sony probably figured it's a more appealing route than delaying the PS5 into 2021, especially since they want a launch during the holiday season. I'm not planning on getting a PS5 any time soon. I just got a PS4 last year, and there will be shortages for a while.

You can justify charging whatever people are willing to pay.

exactly see apple/samsung

I don't understand why people are wondering why Sony haven't revealed the PS5 design yet. Going into the PS4 generation, they revealed the specs, UI and DualShock 4 at the PS4 meeting in Feb 2013, and didn't reveal the PS4 design until E3 in June. The virus has obviously thrown off plans for both companies this gen, but Sony seem to be following a somewhat similiar pattern to last gen. I think Sony want to stick to a similar info timeline as possible, and so I question the reports of why Sony haven't shown off the PS5 trying to suggest production issues. People seem to forget the bigger picture it seems, getting bogged down in the small details.

At this point, $499 seems more than fair for a modern console. It's not 2005 anymore and the HW seems pretty impressive for the price still.

* When MS revealed the new XBOX , their selling points focused coincidently on features that they were superior to SONY in before SONY's GDC event.

* Lot of rumors indicate tech issues with PS4. Could be FUD though as few have come from "supposed" anti SONY sources.

* SONY's assertiveness that PS5 will release this holiday is kinda shaky. The've told us Corona Virus wouldn't effect the PS5 production; it did. It feels their language is not 100% sure.

SONY has not done enough for the idea they're just following PS4 release journey to be easily be excepted. The silence is a little worring.  I just need to know 100% that a faulty console situation is not looming. Care less about price. I already put 500 away.

Also to add, I know this is relevent to both companies. The PS5 and Xbox Series X are backwards compatible, so people looking at a €500 console need to take into account that you are getting a PS4 + PS5 essentially in one package. The same with Xbox series X and Xbox One. So the fact that we have built up a large digital library on our console of choice will be a factor when it comes to choosing which next-gen console to purchase.

There isn't a few. There is only one. And it's not "supposed".