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^rather than being a completely separate theory, it actually ties up very well with my own. I was going to mention counterpoints in the OP but felt it would be too much, and I would rather respond to someone if it was brought up.
Like a lot of people have been saying this gen, price was a big factor. At 600$, the ps3 was the price of a home PC. That's not good. A good console should beat PC pricing by quite a bit. But yes, you have a good point saying that they could "reinvent" the console, almost like releasing a second system within a generation.
I agree that Sony's next console will be a lot cheaper, and be very similar to the ps3.