Here's what I think Sony should do in regards to console options -
1 - Release a COD themed console with a 1TB hard drive and at $400 would eliminate the need for a price drop. This would also be the newer model that uses less power.
2 - Release a Battlefront themed console with a 1TB hard drive and be the newer model also at $400.
3 - Release the newer model black matte console with a 1TB hard drive and five games all via digital download. Could be called the PS4 exclusives bundle or something like that. Would include Knack, Killzone: Shadow Fall, Infamous: Second Son, LittleBigPlanet 3 and The Order: 1886. This console bundle would be for those who want their console to be solid black instead of based on any individual game. The five games would all be via download codes and all separate so that way, if the consumer wants to sell the codes themselves, they can do so. While Sony wouldn't like this, it's about getting the console in the consumer's home. Even at $20, the five games would be worth $100. Add in the extra 500GB in hard drive space as well as the free 30 day PS+ trial and that easily makes up for the lack of any price drop.
After all of that, I wait until early 2016 and announce an Uncharted 4 themed console with a 1TB hard drive for $400. Adding in a themed console, game and extra 500GB hard drive space easily makes up for the lack of a price drop.
At E3 2016, announce a price cut to $300 which becomes effective in July 2016. Reason being is so Morpheus can be released in September 2016. I don't see Morpheus being released before E3 2016 as that would be beyond stupid. Thus far, there's been nothing worth buying it for. Giving developers an extra few months would be a huge positive especially if one of those games is No Man's Sky. Another reason is so Sony can truly showcase it at their PlayStation Experience show (if they're doing it again) and at E3.
I also wouldn't release Morpheus anywhere near Uncharted 4 and SFV. It would be too much at one time. September is usually a slow month and would be perfect for Morpheus to be released. This would also allow Sony to have a few months for Holiday 2016 releases for Morpheus.
Sony doesn't need to rush anything at this point and to me, that could be their biggest downfall if that was to happen. Come January, Sony's focus should be on Uncharted 4 and SFV. No way would I release Morpheus around or before these two games get released. Both games will help sell PS4's and since a price drop would be pretty much a guarantee before Morpheus gets launched, I wouldn't do it until AFTER Uncharted 4 and SFV.
Sony is doing excellent despite no major AAA exclusives for the rest of the year. Until Dawn is a Heavy Rain/Beyond Souls type game and while it should be good, I don't think that it would sell the PS4. Uncharted Collection will probably sell the PS4 but its mainly going to be console themed bundles that make up the majority of the sales.
I personally have no interest in COD or Star Wars but even I know that both games are going to be big sellers so imagine how many consoles would be sold if they're themed and based on those two respective games?
Another reason being that March ends their fiscal year. A price drop at E3 2016 which would be near the end of Q1 in their next fiscal year as well as releasing Morpheus a few months later would be huge for that fiscal year. No reason to pack everything into the current fiscal year in my opinion.