All consoles were done YOY for multiple years.

It was time.

Yes it was time. Also the new systems need the libraries to get the masses to jump in. And historically the gen won't truly take off until $299 is a go. The hardcore and wealthy gamers are the early adopters but they aren't infinite, so look for price cuts in 2014 and 2015. By Xmas 2015 one or both will be $299 and sales will be insane.

I was happy with my PS1. I don't know why people see the need for PS2.

I didn't think we needed one. I was constantly impressed by what the PS3/360 were doing. Even Beyond Two Souls, GTAV, and South Park impressed. I wasn't blown away by the Xbox One or PS4 but I felt I had to buy them anyway. I have to say, I'm pretty disappointed. Maybe I'm getting bored with games but aside from a session of Peggle 2 a few days ago, my consoles have been gathering dust.

We probably needed a new generation and we probably wanted a new generation but it seems that the console makers had no idea what to do to make it a quantum leap over what was offered before.

Yes it was time for new gen to start, and what you are observing happens every time new consoles come out.  Do you think PS3 software sold more in it's first few months of release than PS2 software sold in the same timeframe?  Or other previous gens?

Nope! We should have continued playing the PS3 and 360 until 2040!

The ps4 and xbox one have sold out the 360 and ps3 every week since. There arne't a ton of next gen games yet, which explains the sofware sales. By the end of the this year, I'm guessing xbox one and ps4 software will be dominating the sofware charts. Not to mention, people were talking about how much they wanted new consoles. Also, the ps3 and 360 were SOOO far behind modern tech that devs could barely even work on it anymore. They now target LESS than 30fps. Also, the xbox one, which is being dominated by the ps4, is still breaking previous records which means a very high demand for both systems. 

And I'm just going to pretend you didn't say your last comment because it's one of the most non-sensical things I've ever read. 

I don't see how 7.4million in 6 months is slow...

Yes and yes. The reason 8th gen software isn't selling well is because there isn't a whole lot of it just yet. Also, 8th gen consoles have much smaller userbases than 7th gen consoles.

Technically speaking I think I lied about needing/wanting new consoles. I'm primarily a PC gamer these days and I'm not planning to get any 8th gen consoles thanks to how much milking there is in the industry now.

Erm, yes we need a new generation. Hell, we needed it 3 years ago.

Games have stagnated for some time now, mainly due to consoles simply not being able to do anything more. You can't bring new concepts to the table if you have already bled the platform dry.

The issue is that for many people, they are still feeling the financial crunch and consoles are aimed at the lower end of the market eg high end gaming PCs are selling better than ever, but the price difference means PCs are aimed at working guys, consoles for a younger audience.

However, console sales are still very good for Sony, and fine for Microsoft. Sadly, the one consoles people clearly do not want is the WiiU - and that is last gen power which I think says a lot about peoples demands.