Discuss: Is the new Xbox One X overpriced?

Microsoft has a fancy new Xbox One X for gamers announced today at E3. The new Xbox One X is a sharper looking console than its predecessor, with more power than Sony’s PS4 Pro and more games announced for it at launch than one would expect. For more on that, you can read our coverage here to get a sense of how good it is.
What I’m thinking about now is the pricing, specifically, the $499 pricing. Microsoft’s Xbox One was launched originally at a high pricing and picked up a stigma for being overpriced, especially when compared to the PlayStation 4. The new Xbox One is embracing its expensive nature in contrast to the One which quickly fell to price cuts and bundles. At E3, Microsoft claimed to be proud of the Xbox One X pricing as it is intended to be a premium console. The reasoning for this is clear, the Xbox isn’t just one device anymore, but it’s a family of devices. The Original Xbox One may well be the low-end one in this analogy, the Xbox One S takes up the midrange, and the technological Marvel that is the One X takes up the top-end.
On the other hand, like all premium goods, it all comes down to how the intended audience perceives the pricing, Apple’s iPhone and Microsoft’s Surface are just a few examples of devices that should be perceived as “overpriced” but are accepted by its prospective audience. If Microsoft’s Xbox One X isn’t accepted at this price, the firm may be forced to eat crow, and eventually, slash its prices to move units.
Do you think Microsoft has an impending pricing problem on its hand? Let us know in the comments below.