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I think there's a possibility that it'll come in a little higher than the PS4/XB1. That said, if I had to bet, I think the PS5 will be $399/£349 like this gen's consoles. Like @kingpotato, I've heard Microsoft are going to have a digital-only, budget SKU of their console which'll be interesting to see.

Of course it will be released on next-gen consoles and it makes sense to. The current consoles are very lacking in graphical power and the next GTA will be way bigger than the current one and have way more features so they will need way more juice for that. I can see a 2021 release for consoles (I think the next-gen consoles will be launched around this time.) with a 2022 release for us PC players. I just hope they don't turn the next GTA online into Saints Row ffs.

I feel like this problem is way beyond gaming. I'm not sure about other countries, but I know in America the news is basically a joke now. The gaming news seems to be no different lol