In fairness, and perhaps a reason why Sony has been a little slower off the mark exclusive-wise than MS, their gaming resources 2-3 years ago were split 3 ways: Ps3 was still getting high profile exclusives like Last of Us and Gran Turismo 6( frankly those games could have just as easily been launch ps4 software), ps4 development was under way and they were trying to get Vita off the ground( and we see how that turned out).
With Ps3 now beginning to fade into the sunset, and major first party Vita development having been given up on 2 years ago, they can now devote their attention to their money-maker going forward. 2016 is going to be a big year exclusive-wise. In contrast, Xbox 360 exclusives pretty much dried up between 2010 and 2011 as MS clearly began the shift to XB1. Thats allowed them pump out a larger quantity of first party exclusives from the getgo, but those efforts were neutered in large part by the infamous 2013 reveal, and so MS now finds themselves firmly in 2nd place scrambling to make up ground.
With that said, PS4 has obviously sold well at $399 over two years so there was no need to pricedrop until either their competition forced them to( not really a factor with ps4 the clear market leader this gen), or sales decline and need a price drop to ramp hardware movement back up again( whats happening now). The market for people willing to pay $399 is reaching its limits, but theres no real need to do a $100 drop, as great as that would be for consumers. Increasing storage, a $50 drop and throwing in a game increases the value proposition to consumers while still making money on the hardware.
