Who did it: Sony
It says a lot when future consoles won't cost as much as past consoles at launch, but for an astonishing $600, you too could have had a Playstation 3 on day one.
Sony, riding high off the success of the Playstation 2, assumed that they could release their next console for any damn price they wanted, and they settled on 600 smackaroos, which was unheard of at the time.
Did it work? Well, yes and no. The PS3 did sell a lot, but it didn't sell as much as it could have as many decided to wait for a price drop. Sony could have been much better off if they had only started off at a lower price. Sure, the Blu-Ray player was great, but most would have probably been happier, on launch day, at least, without it.
Or at least with two versions of the console, one with a Blu-Ray player, and one without. Sony looks to have learned from their mistake, though. The PS4 will be $200 cheaper at launch.