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In spite of his immature delivery, Leo-J has a point ... Price is the biggest factor which led to the PS3's downfall.

Had Sony produced a $300 console that was backwards compatible with the PS2 their legions of fans would have rushed out to buy a PS3 without any concern for any features that the system came with; the fact that the PS3 launched at $500/$600 meant that consumers were forced to stop and look at their alternatives.