I think this is pretty dramatic from Xbox a few months after raising the price to $550.
PS is more or less fine for now, but 20% declines from here on in for the last 4 years of the gen is going to be a fucking disaster. No one wants this. You will see price cuts. Mark my words.
And while exclusives will help, they just launched the biggest exclusives in the history of their first party. Spiderman is bigger than GOW, TLOU, Uncharted, Horizon and only behind GT in overall sales. And the PS5 still saw a 20% decline the next month. Exclusives sell consoles, yes, but this is a price issue first and foremost. The core audience that makes up the first 40 million already have the consoles. now they need to go after the late adopters who are not going to buy $500 bundles. Sorry.