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Yes, though I think their idea of the ten year plan has changed drastically since launch.

Initially, they probably thought the ps3 would take off like the ps1/2, and thus have an amazingly long life due to its giant install base. Now, however, I think they're hoping this gen lasts a rather long time (and I think it will), allowing them to regain profitability and regroup, so that they have a better position from which to tackle the next gen.