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That is how the executive leadership at Sony and MS think about it

If they release comparable systems which will get all / most of the same games in terms of 3rd party support, then they don't want to reach the market too late or Wii U will have majority marketshare and be lead platform for developers (especially if it is the slightly weaker version hardware - historical fact that weakest hardware end up being the lead dev platforms).

If the release much more powerful machines (more expensive) then they will need 1st party software like nothing else to drive the sales. Waiting a year could have more software ready and cheaper launch hardware.