PS5 next-gen games are more expensive than Xbox's, should Microsoft follow?

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We're heading for a price hike on games, but are Microsoft and Xbox going to follow the rest of the industry?
Sony made headlines with its $399 disc-less PlayStation 5 (PS5), grabbing a lower entry point to the comparable 4K Xbox Series X. Microsoft also a $299 disc-less option in the form of the HD-oriented Xbox Series S. Both the Xbox Series X and Xbox Series S preorders are slated to go live next week, alongside the PS5 preorders. We're almost in the full swing of the next-gen console war.
Despite Sony undercutting the Xbox Series X with its digital edition, a quick glance at the small print reveals some interesting caveats. Not only will PS5 controllers be getting a price hike to coincide with the fact PS4 controllers aren't compatible with the PS5, but Sony is dropping a price hike on its games, jumping from $60 to $70 in the U.S., and often even more in Europe, the UK, and other markets.
Publishers are also following suit, with various next-gen games from third-party developers hitting $70 as well. One outlier, at least right now, is Microsoft, which has thus far stuck to the $60 standard price we've seen for years.
Should Microsoft follow the rest of the industry with a price hike on its games, or are there other options for Xbox?

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