PS5 Pro is expected late 2024, with the PS6 expected 2028. If Microsoft is to try to keep pace, as someone who doesn’t have either console, it will be interesting to see if they also brand this as a mid-generation refresh or if they stick to their guns they’ve been touting for a while of being “beyond generations”.
It’s needed to justify price hikes as components became more expensive due to inflation.
The price already increased, and justified it with rising component prices, so why not do it again?
Because it’s an easier pill to swallow, given how unpopular that last hike was.