If you’ve been holding off on picking up a PlayStation 5 in hopes of a price cut, bad news: the cost of every model of Sony’s all-conquering console has instead just gone up considerably.

It’s a move that breaks with decades of tradition (or at least consumer expectations) and is undoubtedly a blow for anyone hoping for a discount, five years into the current console generation. However, it’s also a sign that the current generation is likely to stick around for a while yet—and that may be a good thing, for the industry and players alike.

Historically, at this point in a console generation, incumbent hardware sees steep discounts. For example, the PS4, which launched for $400 in 2013, was retailing for $300 by 2018, a 25 percent decrease. Even if hardware is loss-leading, it’s a pricing trajectory that’s usually win-win for manufacturers and customers alike.…