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RolStoppable said:

No.

People like to look at past launches and draw the conclusion that it is easily possible. However, the most recent PlayStation product, the Vita, featured the same price as its predecessor, the PSP. and was agreed upon to have a significantly better launch lineup. Thus people were expecting a good launch, but in reality the PSP beat the PSV roughly 4:1.

Now that the PS4 is cheaper than the PS3 and also has a better launch lineup, people figure that the PS4 launch should be the same or better than the PS3 launch. Not going to happen with the current economical conditions. Besides, the PS4 is just like the PSV in that it lacks the brand strength of the PS3 and PSP. A lot of people bought Sony's seventh generation machines based on blind faith, this isn't going to repeat.

Number time: The PS4 won't sell more than 120k units during its launch week and won't pass the Wii U by the end of 2013.

Current economical conditions are vastly different from 5 years ago, Ive been ringing this bell for the longest time.  Stock markets the world over are at record highs, while the recovery from 2008 has been slughish, many economicies are experiencing economic growth, London's housing marking boom is still in tact, many people have money, and the first wave will buy these disposable items at any price.

This also releaves that Sony's brand strength has always been its consoles not its handhelds and its handheld business has truly been disrupted by phones (as well as Nintendo handheld market), hopefully people will become less dismissive of this.

Time will tell how this all plays out but im sure all games on the fence have now been greenlighted (xbox and ps4), the industry has to gear up for growth and not let Nintendo's woes hold them back.