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Definitely possible. All Sony would have to do is strategically place counters on or before the release of Wii U and its games, as well as the release of the successor of Xbox 360 and its games by form of price cuts, bundles, abundance of AAA games preferrably exclusives, and most of all, persuasive marketing.

Sony will need to utilize its multimedia capabilities one of which being its main focus is Blu Ray, with emphasis on free Netflix, Hulu or Amazon Video access in comparison to Microsoft's subscription-based program.

PS3 Slim(mer) is just the instrument to make such a shift of sizable magnitude; and this will all commence at Gamescom.