The PS5's fatal flaw may be its high price. Rumors and leaks suggest that the console could cost $700 or more, but one industry expert says that Sony is unlikely to sell the PS5 for that much.

As EssentiallySports discovered, former Xbox executive Albert Penello tweeted in response to rumors that the PS5 could be $600. You can read his response below, but he basically believes that it is almost impossible for a gaming console to cost more than $499.

Of course, Penello no longer works for Xbox and never worked for PlayStation, so he does not have current insider knowledge. However, his experience in this field means that his opinion carries more weight than others.

He then added to his initial tweet, mentioning that price is very important in determining the success of the PS5 and its competitor, the Xbox Series X. He also added some background: the relatively low price that made the PS4 a success and the very high launch price that doomed the PS3.

Several PS5 price rumors surfaced before and after last week's launch event, with some leaked information suggesting that the PS5 could be priced at $699.

This is not just because of the larger amount, but also because the Xbox Series X is expected to be significantly less than the PS5. This could tempt players who do not have strong loyalty to the PlayStation brand, and Sony could lose a large chunk of potential sales.

More recent rumors, however, have us more hopeful about the PS5's price: Amazon France temporarily listed the prices of the two PS5 consoles in euros on its store page, with the Blu-ray drive version costing about $565 and the digital version about $450 The company clarified. The latter price is within Penelo's expectations, but the one with the disc drive is not. The ability to use physical media will be a big deal for early adopters who have a stack of games they want to play on the PS4.

We are slowly learning all the secrets of the PS5 and Xbox Series X thanks to a series of online public events. While the PS5 is likely to be the console of choice for the best exclusive games and immersive 3D audio, the Xbox is likely to have a significant advantage in frame rate and resolution due to its more powerful GPU. Nevertheless, neither console will be seen until around November, so there will still be much speculation before we know which console will win the console wars this fall.