Because their goal isn’t to sell the most consoles possible...it’s to make the most money possible.
it's incredible how incredibly easy it's explained.
OP go read an article on price-elasticity. While on the "hunt" for important knowledge also try reading some bits and pieces on giffen goods and on artificial scarcity.
Wanting things you don't want to buy or you can't buy is implicitly improving the demand on the good itself..You would lose so many revenue layers if you position this product at $399 - it would be a travesty from a sales strategy and pricing strategy perspective selling the console at $399....
Short and absolute helicopter view example for you to understand how important is to value your product correctly:
20,000,000 consoles * $599 = ~$11,980 bn
31,000,000 consoles * $399 = ~$11,970 bn
55% more consoles sold for 0% more revenue- how is this calculation looking for you as a executive of a multi-billion-dollar company?
Cost decrease over time, revenue isn't. If you price correctly and exclude price cuts for 1-2 years you profit quite heavily for any advantage you create in production cycles.
Neither is Sony looking to sell-out its golden content portfolio undervalued nor is Sony altruistically driven to make you smile. You heard right! No, this is not for the players! Yes, this is pretending being for the gamers while leveraging most value out of the perception that this would be for the gamers - if anything, it's time to p(l)ay - are you ready to p(l)ay?
Get ready to pay the big bucks my friend. Get ready to pay EASILY 450 for the next generation console and be well prepared to pay even more than that.
No matter what...it's going to be a hell of a ride and it's going ot be far better than paying 500 for a seasonal family ticket for the Universal Studios in Orlando - I promise you that.