Here is the nightmare of early adopters. My Xbox 360 RRODed in 2007. My PS3 Slim's HDMI fried. On the contrary my PS2 (which I gave to my cousin) still works fine. Check this article.
IMO this particular PS4 overheated because it was in a small plastic box which had no ventilation. I hope Sony knows it cost Microsoft an estimated $1 billion for RROD issues. Mark Cerny answered a month ago that their designers know what to do.
PS4 Overheating & The Red Line Of Death
A photo has surfaced showing a demo PS4 console overheating and displaying what has been dubbed “the red line of death.” The picture was taken at a PS4 event in Spain and posted by Elotrolado member Homer J. Simpson in his report of the event. He says (translated from Spanish) “it had a red light (where the typical blue LED light) and had a message on the screen saying that the console had a very high temperature. The security case was opened and in two seconds the error message was removed and the light had returned to its normal color. “
There have been various reports of PS4 consoles crashing during recent demonstrations but hopefully these issues will be sorted out by the time the console reaches retail.
Source: http://videogamescene.com/ps4-overheating-the-red-line-of-death/