Well, the whole Sony corporation reeks of this arrogance. I mean, remember the 'you don't bitch about great architecture' bit from the PSP designer?
If they were smart, I would think they would see how well the 360 does before they set the price in stone. I would think being almost a year behind instead of ahead will do a bit of damage to Sony's market share this time around. Keeping the price of the PS3 out of $400-$500 dollar range ought to do a bit to alleviate the lost ground.
However, Sony being Sony, I imagine it's going to be in the $400-$500 range with no forseeable price drop and their argument will be something along the lines of..."if you want to buy quality, it comes at a price."
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