Though Sony made many, many mistakes when announcing the PS3, arguably the one that hurt them the most was the price point. Far more expensive than the Xbox 360, the confidence that they could sell their machine at a huge markup and people would still flock to them damaged them for years - and was the exact same bullheaded mistake Microsoft made with the Xbox One.
It's clear they've since learned from their ways though, and have attempted to price their machines as reasonably as possible. This has admittedly led to tech that isn't quite as advanced as it could be, but it's opened up high-end gaming experiences to the biggest market possible, with the base PS4, the Pro and even the PSVR all selling like hotcakes thanks to being a cheaper option.
It's a mentality that Sony are rumoured to be keeping going into the next generation. While an exact price hasn't been revealed so far, estimates indicate it being similar to the $350-$399 window they've stuck to. 4K gaming isn't cheap, and Sony don't want to be overshadowed by the competition as having a weaker machine, but they'll still be trying to keep its RRP on the lower end.