It was created as a way to exclude the Wii - if anyone remembers the atmosphere before PS3 and Wii launched, it was very different. Everyone thought PS3 would dominate so there were a lot of "Wii60" sentiments with Microsoft even jumping in on the act, as a way to combat big bad Sony.
But now that all 3 major consoles can output in HD, using that as an identifying feature of any of them seems pretty moot. If the Wii U takes off I fully expect the trolls to come up with a new term to exclude Nintendo, unless Sony or Microsoft drop the ball in some way that garners everyone's scorn instead. Of course, there's always the small possibility that none of them get grouped together and are judged on their own merits instead.
Tag - "No trolling on my watch!"
