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Mr Puggsly said:
Nope.

The market has changed. When Sony got in the business their only competition was Sega and Nintendo. Neither of which were in their prime.

Sony was hip, new, cool, and getting all the great exclusives. But then about 12 years later they went crazy and put out a $600 console.

The End

I'd say that SEGA and Nintendo were coming off the back of some very successful consoles. Lets also not forget that Sony made a console because Ninty back stabbed them :P

It's amazing that people are so surprised when a consoles have a shift in power in a very fickle market. It's up in the air who will do well next gen but I say that they should all do fine.

Releasing a console at $600 wasn't the problem because early adopters would buy it no matter what. What the problem was that they failed to make a console that could be easily reduced in production costs. They made it impossible for taking up the mass market in later years because it was priced to high. By the time they released a re-model (I like to call it a re-model and not a slim because a proper slim will come, maybe E3) that could come down in production cost more rapidly, wii and 360 soaked up the mass market already.

But it's this mass market that is the most fickle and is more abundant on the Wii and 360. What I'm trying to say is that next gen, each company will keep their hardcore following but Ninty and MS are more prone to losing their following. Who is the most "coolest" console and/or has the most the family friendly console and can reduce their price to the "sweet spot" the quickest will snatch this mass market after the hardcore early adopters.