A Playstation 2 price cut doesn't really do much for the industry compared to if they did it on their latest console the Playstation 3. It's a given that price cuts happen to consoles who stayed long in the market and the PS2 is the current oldest in this generation. Actually it is already considered last gen by standards. Here's a qoute from Microsoft regarding Sony's claim that that this move will drive more players to the Playstation brand.
"This move from Sony at the end of the PS2's life cycle is not unexpected. We believe, however, that the future lies in the growth of current generation consoles and Xbox 360, as the fastest growing games console last year, with sales up over 80 per cent, will continue to drive the market."
Well, who really cares about the PS2 at this point in time. Gamers want new games, gamers want games for the PS3, gamers want a PS3 price cut, period.
Source: Microsoft Discounts PS2 Price Cut.