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TanukiTrooper said:
I have a strong belief that console sales peaked last gen, and that this gen will not be able to match last gens total sales across all platforms. I think the PS4 will have a strong start but then will slow down. The PS4 lacks a new media drive which pushed sales to people who wanted a dvd/blu ray player cheap in the previous generations (I still hear people say they own a PS3 just to play blu rays and don't even use it as a gaming device). Microsoft left a bad taste in gamer's mouths with their attitude towards DRM on consoles, which I wouldn't be surprised if we haven't heard the last of it. And Nintendo failed to impress people with their touchscreen gamepad like they had done with motion controls (but that didn't stop Sony and Microsoft from scotch taping similar solutions to their consoles out of fear that Nintendo might beat them to something that sold like hotcakes again). The Vita is struggling and the 3DS needed a price slashing to sell well.

So this gen is looking like it will be sort of average, but I don't think it will be a devastating market crash... yet.

My other major concern would be how many gaming studios are going to fold in the struggle to make a game that sells. As we have seen in last gen, you have to produce an AAA quality title for the chance of profitability. And if your AAA grade doesn't sell well, well buddy, you're up **** creek. Ninja Theory have already announced their departure from consoles to concentrate on mobile. We have created a culture where we can only appreciate consoles that have high end specs and make a joke out of those that aren't, and only appreciate games that push those high end specs to the limits. It's getting beyond ridiculous. And I wouldn't be surprised if we do eventually head into another gaming market crash sometime in the future, because the market cannot be sustained with the attitudes it currently holds.

Terrible assessment. The PS1 arguably caused the biggest re-evaluation of the industry, and CD-ROM wasn't exactly some obscure new format.

Also, I can say I still hear people using their Wii's as Netflix streamers and not gaming devices, would you take my word for it?