(Protip: He was being sarcastic, lol)
Oh wow really? I thought they were for realz o.0
No, they cannot win the price war much like how Nintendo cannot with the Wii U against the XBox 360 and PS3. Both systems decided to bundle a rather expensive peripheral. The PS3 also had bluray which added to costs above its competitors at the time but consumers decided it was something worth paying extra for. If Sony bundled Project Morpheus with every PS4 then they too would be facing other challenges much like Nintendo and Microsoft face now. On the flip side that is why it will likely become a niche product just like their camera will as did the Move controller. So you either risk a lower adoption rate of hardware due to additional costs or you risk those devices becoming very niche because you've split your userbase. It's a risky endeavor.
If Sony really wants to go for the jugular they would announce a price drop or game included to keep pressure on its competitors even though the system is selling so well.
It's interesting you bought up Morpheus because that could complicate things for Sony. However, since it isn't coming out until next year (unfortunately, I was hoping this year) and not until Summer at the earliest (need that GDC/CES/E3 demo time!), that gives the PS4 a lot of time to price cut to $349, at the earliest.
IMHO I think Sony will cut the price to $299 before Morpheus comes out (probably in November), especially if Morpheus is in the $200-$300 range; they could essentially tie a subsidized subscription model of Morpheus to PS+; instead of $5 a month you'd pay, say, $8 or $10 a month (your choice) to pay off for Morpheus. They'll profit from the sale of games and apps for it anyway. Once you pay it off you return back to the normal pricing structure or maybe get a discount.
Depending on how heavy they push VR out of the gate, it could work very well for them and I think people would pay for that kind of value. By comparison Kinect and the Wii U controller don't seem to justify their added costs, like you've said. But at least w/ Sony, they are selling fast enough to likely be able to eat cut revenue sooner (certainly by early-mid 2015) and have something in Morpheus that will attract core and maybe even casual gamers too, depending on the games, apps and subsidized subscription costs (if any) they have for it.
Microsoft has made it clear they wouldn't mind having a system without a disc drive. In all honesty, you're probably going to get a system without a disc drive before you get a system without Kinect.
100% agreed. Discless XBO reveal at E3 is pretty much guaranteed, and they can cut the price to $420, maybe even $399 and profit that way. Less blu-ray, less fees to pay to the association.