Sega isn't really equipped to be a console manufacturer these days...even in their prime they would not be able to deliver a console that would compete with what people call 'AAA' games these days.
Segas strength was coming up with awesome gameplay mechanics and then using latest technology, developing video games around those mechanics. Games that are fun for 15 minutes at a time or 15 hours straight. That type of gaming has been pushed aside to places like Xbox live and isn't at the forefront of the industry anymore. These days games like Trails or Geometry Wars are more classic Sega like than games Sega are making themselves...
Only path that I see for Sega which could include a console in the future is the path of an Android console manufacturer, much like Ouya. In fact that would be a perfect avenue for Sega to do its own thing and release some of the dozens of great IPs they are sitting on.
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