My guess is that sony is trying to ride the high price as long as possible. Once they drop their prices (and inevitably, they will, or they risk the death of bluray) That's it, they can't ever go back. With electronics, people expect it to be at a certain price and stay there or lower forever, they won't pay more for a product from year to year.
I just have to laugh at the claim that "Bluray is still a developing Tech, that's one reason the prices is so high!" Lol, the only reason it is "developing" is because sony is trying to milk as much money out of the rubes that bought edition 1 of the bluray as possible. "Oh, you can't watch this because you bought a 1.01 bluray player, this was made for 1.05 which offers nothing more then compatibility for the brand new standard!". Seriously, the actual hardware is developed, it now costs peanuts to manufacture a bluray player. Other then a small crew of developers that are needed to write the next "latest and greatest" bios, and a design team to wrap it in a new box, there isn't a whole lot being done with bluray as far as R&D goes. The blue laser, and the driving chipset have been invented for several years now.
Sony isn't dumb, they won the HD war by hooking bluray to their PS3. (really it was pretty smart in a lot of ways). They knew that bluray might not win the war, but they also knew from past experience that the PS3 would sell more units then any bluray tech ever would. Of course, the PS3 bombed as a whole, but it allowed sony to point to the major studios and say "Hey, We sold over 1 million bluray players to the public, if you want the most exposure then go with us because we have the largest supported format base".
I would argue that the real reason Bluray won over HD is because the PS3 supported playing bluray disks natively. If the xbox 360 did the same, it might be a different story today (the $100 extra addin to get HD support doesn't really count as the sales probably weren't high enough). Of course, then the xbox would have been $100 more expensive and its sales wouldn't have been so hot either. Microsoft wasn't a huge champion of the HD format.