I guess it's different if you are American, but for me, 700 USD for a console is kind of a lot. I may as well just buy a gaming PC with that money.
But from a marketing point of view, it's a smart, if scummy, move. The "gamer" crowd will prob want to upgrade to Pro, and with GTA6 coming it may be the best platform for it. I can see it working.
But not for me, I don't want to choose between an overprice machine or what is going to be an outdated one. I'd rather just jump out of the Sony ecosystem because they are clearly going full greed mode and once this happens things only get worse.
I still remember the PS3 flopping because it wanted to charge 500 and yet, here we are.