So because Nintendo is going after the "hardcore", and Microsoft is going after the "casual" they are going in the right direction. But Sony who is trying to do both isn't? And the main reason why is you don't think they can be effective at it?
Its funny now that Nintendo is going after the "hardcore", they are going in the right direction and not the wrong direction like Sony and Microsoft were when they launched.
And exclusives do make a huge difference, what would Nintendo be without Mario or the Wii lineup? Where would Microsoft be without Halo or Gears of War. Where would Sony be without Uncharted and Gran Turismo? So to say that exclusives are overrated is ignorant.