Small experiment so might not be super indicative of anything, but I went on Camelcamelcamel and searched for the pricing history of
the Zune HD 32GB on Amazon.
Filtering only for Amazon's pricing without 3rd parties (because they would have a direct relationship with Microsoft, and thus would have "officially mandated" price changes), this yields quite the interesting timeline:
Launch date of the Zune HD 32GB: September 15, 2009 (MSRP = $269.00).
Lowest Amazon price tag: $169.00 (posted on March 7 2011), which is a ~%37 discount.
Microsoft announces that they are stopping new Zune model development on March 15 2011 (almost exactly a week after the biggest discount), and then announces the complete discontinuation of the Zune brand after 7 more months, in October 2011.
Right now, Microsoft is discounting the Series S|X very heavily, with the S going as low as $150 (%50 discount), and the X going as low as $350 on Amazon (%30 discount, maybe more because I'm seeing game bundles sold at the exact same price). You will also note little to no marketing during the holiday season, apart from social media posts.
Make no mistake, this is an absolute fire sale, and if my inferences are correct that there's a pattern there, I think we might indeed be watching the beginning of the end of home console wars as a concept.