As you state it, it reminds me much of the stock market with 'experts' that are wrong more often than not, people buying into the hype of this company or that and then wondering what happened when reality doesn't match the hype. Etc. At least no one here is losing money. At least, not real money.
People are taking it too seriously. It's not a war. It's a business. For the fans it's meant to be a fun distraction but many actually get aggravated their favorite game or company isn't doing as well as they think they should. That's understandable to a degree. I'd buy a Zack & Wiki 2 but it'll never come (Wiiware Capcom??). And with the billions Sony's lost (and still losing) you'd have to wonder what the future will hold, but so far they seemed determined to stay the course.
Nor can I blame Wii owners who are frustrated that 3rd parties haven't put the same effort into Wii games as HD titles. Glad to see Silent Hill, Tatsunoko Vs Capcom, Red Steel 2, Monster Hunter 3 all coming (or out) and all look solid but generally Wii gets a ton of crap for every serious effort.
But for myself, I have enough great games already to last me a long time and many more still on the way. And it's fun to see the fanboys react to everything. Myself included.