Alterego-X on 12 February 2009
I think, we should call it a crash only if at least two of the this-gen consoles would get axed.
Some third parties crashing has no overall effect on the industry. Even if EA or Activision-Blizzard would crash, there would be simply a bit less games, and that simple.
Of course, Nintendo is winning big, and the other two are financially secured by their other brands.
There is a possibility that if the recession keeps hurting them they will leave the video game industry at the end of the generation, but not violently, during the generation, like in a crash.
