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No way is it the new Dreamcast. It hasn't exactly failed. Only by Sony's super high standards is it a failure but it's still selling and it's got plenty of third party support with games coming out left right and centre like the other consoles.

The PS3 is not selling like hot cakes due to Sony's and Microsoft's fault. Too expensive, inferior graphics to the 360 in most cross platform games (that makes a difference....remember how superior cross platform PSOne games looked next to the Saturn), not enough exclusives or timed exclusives, neglecting the casual audience.....Dreamcast on the other hand died cause of Sega's damaged brand, Sony's massive Playstation brand and the mostly obvious technical superiority of the PS2.