Subsidies. Sony makes money on Playstation games they hold monopoly over (30% from every game sold on their system) and are generally more expensive than PC games and stay that way.
PC part makers have to turn profit on individual parts as they don’t have reoccurring revenue from game sales.
Early in the lifecycle they sell them at cost or even at loss and they might make some profit on individual units in a few years as they get older and the tech in them cheaper.
As an example Sony was losing about $300 per unit on every PS3 they sold, which cost about $499 on release.
In a similar fashion Valve sold their handheld Steam Deck at a significantly lower price as they could also afford to sell it at cost.
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