If one of them launches at $399, then I would be willing to buy at launch.  And, it's not like there isn't speculation that Microsoft might try to undercut Sony's price this gen.  Sony used the exact same tactic against both the Sega Saturn (announcing PlayStation being $100 cheaper just minutes after Saturn's reveal) and against the Xbox One (announcing being $100 cheaper the day after Microsoft's XB One's price reveal).  Xbox lost a ton of marketshare this gen.  There are two ways to gain that back.  Timing, like they did with getting the 360 out a year earlier than the PS3.  Or price point.  Since both systems are releasing simultaneously again, the only thing they can go after is price point.  So yeah, it actually is potentially possible that the XSX launches at $399, in which case, yes, that is what I would be willing to pay at launch.

PUBLISHED: 10:20, Wed, May 13, 2020 | UPDATED: 10:21, Wed, May 13, 2020

During its E3 conference in 2013, Microsoft told fans that the Xbox One would launch at $499 in the US. Sony announced a $399 price tag for the PS4 a day later.
According to industry analyst Michael Pachter, Microsoft will adopt a similar strategy for the launch of the Xbox Series X. Furthermore, the Wedbush Securities analyst said that Microsoft will wait for Sony to reveal its price before making the next move.
"Microsoft is being pretty smart about waiting Sony out here," Pachter said. "From what I've seen, Sony is going to have to charge $500 for their PS5, and Microsoft has a big balance sheet.
"If they [Microsoft] want to cut the price by $100 – just price below [PS5] and subsidise the first 10 million [units] – they will.
"So, I think that they’re waiting to have Sony blink first and then they’ll reveal the price and the launch date. It's going to be holidays, so very likely sometime in November.
"Very likely $400. And fans are going to get a lot for their $400."

PS5 v Xbox Series X PRICE WAR: Microsoft to use Sony's PS4 strategy against them

PS - Don't take this as me endorsing anything Michael Pachter says.  I'm just using it to show that it is something that is in discussion, so not completely out of the question or irrelevant to the discussion.

I want to pick the cheapest option because it's going to be a hard sell for me regardless. The vast majority of titles will release on day 1 on PC. I honestly don't know how any sane person justifies purchasing an XSX unless they can't afford a good PC. I am not buying an Xbox series X at any point given that I already have a Series 2 Elite controller which is superior to the XSX controller and PC will just be a better investment. PS5 will probably have a few exclusives, but hopefully it will see a price drop by the time I look to purchase one. Definitely not a day 1 buy from me.

Does this mean I'm allowed to buy a PS5? *Sweats*