I bought a PS4 pro back in the day but am giving this one a pass.
I'm all for incremental mid-gen upgrades, but not at that price point. If it can't be priced competitively with the prices people have been paying, then it should not be made until the hardware they want meets that price point.
Should have made it $499 and drop the base price of the PS5 to $399.
I bought the PS4 Pro as well, because it didn't feel like a bad value. It felt like a mid gen refresh where we got some extra power for no extra cost. Sony thinks players care about the extra performance for another $200, which is ridiculous. Up until this generation, consoles got cheaper over time as they become cheaper to produce. This is the first generation (that I remember) where the cost has stayed the same/gone up.
I fully agree that at $500, this would be a no-brainer for those wanting the extra power. A $350 base console would be a good pairing.