Usually, yes, although the x360 was announced in an August. They’re playing chicken this cycle, with the uncertainty of the pandemic and all. Microsoft didn’t announce Lockhart yet and Sony is holding back the price on their digital-only system.
Honestly, I expect both the full PS5 and XSX to be extremely expensive. The real battle will be between the digital-only PS5 and Lockhart. Question is how closely they’re priced, and whether Sony can box Microsoft into a corner by releasing a real PS5 digital-only at a price competitive with a severely underpowered Lockhart.
That may lead to MS canceling the Lockhart entirely, or dropping the price on the XSX, or (my guess) bundling free games or store credit to make it a better value. But it depends on who blinks first, they’re each waiting to see what the other will do.