I'd imagine the smarter move would be to shift some wafer starts from Series S to Series X.
However, considering that the cheapest XBS-S on Amazon (US) is still the EU version at 411.17 USD, the smarter move would likely be to just prioritize shipments of XBS-S to regions where there's a shortage and reduce shipments to regions where XBS-S is in good supply.
So, if you live in the EU and can ship to the US relatively cheaply, there's an opportunity to make some money.
Just out of curiosity, looked at Amazon (Australia) and they are completely out of stock of the XBS-S there.
So acute shortages of XBS-S in some regions but not in the EU.
Considering that MS can make more XBS-S SOCs per wafer, if both MS and Sony are limited by wafer starts, it's possible that MS will sell more Xbox Series consoles this year than Sony can sell PS5s. This assumes, of course, that XBS-S continues to sell out in the regions where it is currently experiencing shortages.
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Regards,
SB