So 95$ estimated loss? The x360 was estimated by that company to lose 127$ per unit so that's not too bad. I doubt their calculations are accurate, the costs will likely be lower.
Either way, the X360 launched at 400$, the PS3 will launch at 400$. As the PS3 has all the features of the full x360 and more (additional BRD playback, for example) that price will probably look justified in the eyes of the public. Plus it's Sony, they'll have at least enough momentum to carry them for a year or two and third parties won't abandon them too quickly. A setback but not a guranteed failure yet.
We don't know what MS will do with the price drop, they might just kill off the premium line, add some useless stuff to the core version (to make it look like the new premium) and call it something new. Or they'll just claim "Hey, the x360 sells for 300$! We're cheaper!".