Sony is definitely fixed on their price ranges, but I can see why they are waiting for MS.
For starters, MS has to announce the XSS eventually, and will probably be announcing price at that point. They can't say during their announcement "we have the cheapest console on the market" when sony hasn't said anything yet.
Then there's the actual price(s) in question.MS can price the XSSanywhere from $299 - $349. @$299 XSS, sony will have to price the PS5 DE at $399. But if MS comes in at $349, sony can then price the PS5 DE at $449. I this that's what this is all about.
Sony is probably willing to go as low as $399 for the PS5 DE, but only if they absolutely have to. So the best thing to do is wait and see where MS is at, sony probably knows its a bad idea to have a $150 price delta between the cheapest PS5 and cheapest Xbox.
MS on the other hand probably wants sony to go first so they can undercut them no matter what.
Yes, for sure they already have a lot of projections with each console price (theirs and MS) and have the interval that they prefer, but will wait on MS as long as possible to see the price that would better go with whatever MS announce. Another thing is that they may be monitoring the cost as well, it may change due to both covid and time (like when they finished the design some components could be more expensive than now) and doing bean count until the time limit before setting the price in stone.
And I agree with your other paragraphs.
duduspace11 "Well, since we are estimating costs, Pokemon Red/Blue did cost Nintendo about $50m to make back in 1996"
Mr Puggsly: "Hehe, I said good profit. You said big profit. Frankly, not losing money is what I meant by good. Don't get hung up on semantics"
Azzanation: "PS5 wouldn't sold out at launch without scalpers."