Me personally, I believe it mainly has to do with 2 things. Remember though, this is just my way of seeing it.
#1.) Graphical capabilities that came out maybe a bit too soon and at this point don't really need replacing.
#2.) Robust online interfaces and great low priced content in their respective stores. Some of this content is not only new original IPs and ideas but also very nicely priced.
At the moment I see no reason for me to buy another console if Sony or Microsoft were to release one. For once I believe I will be able to sit back and be a late adopter next gen. 
iPhone = Great gaming device. Don't agree? Who cares, because you're wrong.
Currently playing:
Final Fantasy VI (iOS), Final Fantasy: Record Keeper (iOS) & Dragon Quest V (iOS)
