People assume that Microsoft would leap at the oppotunity to charge ridiculous amounts of money for their console and its services but I very much doubt that. They could go that route and still manage to draw a heck of a lot of consumers, or they could keep things affordably and draw twice that amount. Microsoft aren't stupid.
Not leap at the opportunity that would be stupid, but it would be less severe if they did it over a period of time. That's how they get you. Treat them good for a few years while slowly raising prices and people slowly start to complain about it until it gets high and they can really make money from it and they would be dependent on them because they would be basically the only hardocre console for them. People would complain but they wouldn't make the effort to do something about it as we can see with a lot of products these days.