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Heresy! Perdition! Dogs and cats living together!
If you want games from Japanese companies on Steam at a discount wait until the summer, winter, and company sales when Steam forces the discount as part of their agreement. Still they tend to do the bare minimum so buy bundles/editions to get a real discount on DLCs.
https://www.ign.com/articles/elden-ring-black-friday-2023
Now sold out, however.
Best Buy for one.
Then there is that. Physical electronic stores have fallen on ever increasing harder times. Of course they have better sales then most digital storefronts they need to draw in a crowd.
PS4 version - $29.99
PS5 version - $39.99
XBox Series S/X - $39.99
https://www.bestbuy.com/site/elden-ring-standard-edition-playstation-5/6468170.p?skuId=6468170
Best Buy is just doing their usual Black Friday deals while also clearing the shelves of excess stock. Nothing special or at all unusual.
Where $20 sale? As others have pointed out, console digital storefronts almost never have any worthwhile sales. That's the price of being a console peasant. Elden Ring has been on sale on Steam several times. Last sale was fairly recent.