There's no price war
I listened to the earnings call and if you listened carefully they contradicted themselves explaining it. If there was a price war, it would be reflected in margin pressure either from Pure (which grew margin significantly) or from Dell and NetApp who are also getting respectable margin. If you listened to the live call, you heard Charlie stuttering and stammering through his weak explanation of a price war where their own margin numbers don't show that. The truth is that Pure's growth is slowing, their once unique value prop (Evergreen) is being matched by competitors and they aren't the standout storage vendor any more (#2 in Gartner's MQ). This isn't complicated... and it's definitely not a price war.
Pure Storage should be considered an acquisition target now as their earnings have risen but their market cap is barely above its IPO level. The fat lady is singing and Dell isn't scared of more, cheap debt.
<drop the mic>