The seven year old hardware in both the Xbox One and Playstation 4 is due an update later this year.
Nvidia’s price cuts are likely related to upcoming console updates. Given the widespread issues AMD users are facing with 5000 series GPUs (blue/black screens etc.), it is unlikely that AMD would have posed a rational threat to Nvidia’s market share this year. Nvidia’s 3070 GPU offers once in a decade price/performance improvements: a 3070 offers 40% higher effective speed than a 2070 at the same MSRP.
