Is Microsoft and Sony betting on the wrong horses ?

[ListerOfSmeg]

Internet hype rarely equals real world success. See Vita as an example.
Thing is I think both will suffer, PS4 more so than X1, one families see they have to pay for online. With MS its already known but many sites seem to be leaving it out when talking about the PS4. I have talked to many people who have decided not to get a PS4 after learning of the paid online scheme. I am sure once more people know they will make the same decision. Maybe it will even force Sony to drop that part.
As far as games go, sure they both have a few announced, but how many will actually get released on time?
People bring up Wii U, so lets look at it. How many games were expected to come out that got delayed? a good few. If this happens to X1 and PS4 also, expect people to slow down buying them and wait for the software to hit.
Other things to take into account
299.99 WIi U with W101,Pikmin, Lego City, Monster hunter, Lost Worlds, Mario 3D land, DKC:TF, Zombi U, Wii Fit, WW HD. for exclusives and then the multi plats like Watchdogs, AC4, COD, etc. That will tempt many consumers not to get a PS4 or X1.
Then you also have a lot of games like GTA5 not even getting next gen versions at all. That too will slow people from making the jump to next gen..

Lots of things to consider. Its never as cut and dry as people want to make it out to be. Sometimes people use their own brand loyalty to decide how they think things will go but it never works out that way.
If the internet was the world, not a single Wii would have sold last gen and we know how that turned out.