I think it lost in a sense that no new hardware was released, and in terms of games there could have been less talk of Kinect Labs, and that abysmal disney game - which kids might like, but who's 5 and watches the E3 conference? Cheezums.
I did love Ryse, Halo:CE, Halo 4 and Ghost Recon announcement, overall I'd say it wasn't too bad and I haven't had much expectations in the first place, although there was too much shovelware for Kinect including Kinect Sports 2 - which had abysmal delay..
After reading up on the Sony conference I can't say that that fared much better either. Nintendo is going to win this, I just had an amusing thought...
Sony and Microsoft now become casual centred like Nintendo was this gen and Nintendo maybe will be hardcore next gen? 
That'd be amusing.
But to be fair, taking our demographic into account if you had expected those sort of threads not to pop up within 5 minutes of conference finish you're very naive, if MS had ye olde JC play Gears with Cliffy on stage, announced 15 new core titles, people would still find something disappointing about the conference.
Disconnect and self destruct, one bullet a time.
