People aren't overreacting. Look at the year over year sales. The PS3 is doing fine there. The 360 is doing excellently. The Wii is doing oh-my-freakin'-god-there-really-is-no-hope.
Take this week for example:
http://vgchartz.com/japweekly.php?date=39544&console=&maker=&disp=Japanese+Name&boxartz=2
Titles on Sony systems dominated the Top 5, and the Wii had no new releases of any real significance. And yet it still sold 45k that week. If you wanted to do exactly year over year, the Wii sold 65k the week ending March 1st, 2008. No big releases, just Brawl's fifth week on the charts.







