This week at E3, Microsoft finally announced the name, price, and release date for Project Scorpio. It’s called Xbox One X, and the $500 system will launch on November 7. $500 is more than many thought it would be, and now some analysts are saying that price is too high.

GI.biz collected a series of opinions from analysts about the Xbox One X’s price point, and many agree that the price could limit the system’s ability to have success on a wide level.

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“As expected, the new device’s price point is the most obvious weakness, giving Sony an opportunity to drop its current PlayStation 4 Pro to $350 and raise the stakes,” SuperData’s Joost van Dreunen told the site.

Michael Pachter of Wedbush Securities commented, “I think that the price point is too high. Consoles have historically failed at this price point, and consumers seem unwilling to accept anything over $399. The X will have even more trouble, because the S is at $249 and so is the PS4. A consumer could buy both the S and the PS4 for the cost of an X, so it makes it a tough decision for anyone who is budget conscious or constrained. I think it will resonate well with the wealthy few who buy it, but think it’s too expensive.”

EEDAR’s Sartotri Bernbeck said $500 is “fair” for what’s inside the machine (it’s the most powerful console ever made), but he also mentioned that it could be a “tough sell.”

Other analysts quoted in GI.biz’s piece were more positive, including IDC Research’s Lewis Ward, who said Xbox One X is “remarkably affordable given its specs.” You can read the full story here at GI.biz.

Earlier this year, Xbox boss Phil Spencer said he believes Xbox One X (then known as Project Scorpio) won’t sell anywhere near as much as Xbox One S. “The majority of the consoles that we’re going to sell are the Xbox One S and I’m very proud of that,” he said at the time.

We spoke with Microsoft today about the $500 price point, and the company believes no other console out there is doing what Xbox One X does. For lots more on Xbox One X, check out GameSpot’s breakdown of the Xbox One X specs in the video above.