XBox 360 Getting $50 Price Drop?

Various sites are reporting that the XBox 360 may get a $50 price drop to compete with the $100 drop the PS3 got. Thanks to that drop, the PS3 enjoyed around a 138% increase in sales, usually at the sacrifice of XBox sales. The rumor indicates the drop will occur around August 8. I wonder if that is the reason behind the $50 Toys R Us gift certificate with XBox purchase that is going on at those stores?