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NO!

I don't think Sony can afford to lose money for another 7 years. Even the most ardent fan will realize that after 5 years of claiming "this will be the year of the PS3" that something is wrong. Sony will be forced to releases the PS4 in the middle of the PS3's lifecycle and they'll need to increase the price of both. I predict Sony will take a page from Nintendo's playbook and the PS4 will be less technologically advanced than the Wii (because it will be all they can afford). I can see it now Sony will lose all of it's exclusive titles to systems with superior install base. In the end the PS4 will be reduced to fighting over bargain bin shovelware franchises with the next gen "LeapFrog" console.