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Being big companies, it was right to put so much money into those consoles. Otherwise there wouldn't be such a significant difference between smartphone/tablet games and console games. It's a huge entertainment pack with games so big and complex they can't be done on small devices.
But even if this will fail in the future because (almost) everybody goes for mobile, there will be consoles. There always were consoles that weren't successful but survived and they had great games.

In the end, why should consoles die when this generation was sold so much? The companies just need to go on and will eventually get rid of the red numbers because it's all set up.