I don't claim to know about the industry, I just know common sense.
The thing about your post is that it's not true. The same formula isn't getting reused over and over. Things are constantly changing in the gaming world. Look at MS Live!, look at Bluray and the pseye. Look at headtracking and the 3d movement, Natal and plenty of other stuff. Sure, most those things are due to the success of the wii, but they are not being made because of the wii. These things are natural evolutions of the medium and have just been spurred into quicker development due to the wii succeeding.
Look at video game history, it's filled with peripherals and new ideas and strategies. To say that console gaming is stagnant is absolutely wrong.
In addition, you used the word "eventually". Let's not break into semantics here, but I don't think you yourself have any idea of when "eventually" is going to happen. But that's ok because neither does Malstrom. The concept is universally understood, but it's one of those things that really works much better in hindsight.
