When the PS3 launched it was subject to a speculation bubble. Based entirely upon the precedent established by the previous consoles launch sales, and failure to meet demand. You can easily understand why someone would speculate in consoles. There is no actual risk involved. In fact I highly recommend console speculation totally regardless of how the PS3 performed. You buy it, take it home, put it in an online auction, and if you cannot sell it all you need do is return it to the retailer.
Those massive sales were based entirely on ego and fear on the part of well to do consumers. Who are less then phased by paying high prices simply, because its not bought on merit. The console was purchased as a status symbol. There was no hype, and there was only very soft demand. Sony could not even clear launch consoles from the market for over six months.
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