It seems like Sony tried to avoid their previous mistake with launching the PS3 for $500-$600, the console didn't start selling well for a couple years until they cut the price down.
$300 is about right for a console price, pricing them higher doesn't work so well as home computers aren't $3000 anymore. You can buy a suitable new laptop for $600 so why buy a console for the same price?
Ask Nintendo how they kept doing it.
Something like the 3DO or CDi.
Worked great for Sega with the Sega CD and 32X.