Nah the industry didnt grow much from PS1-PS2. Going from PS2-PS3 the industry grew thanks to the Wii, and then a whole bunch of bad shit happened and the industry is now in the shit house from a development culture and monetary standpoint.
Our yearly cods,ass creeds and the like are whats keeping it afloat. And the other guys cant break even and fold. I
We're in a terrible spot.
Nintendo and Sony thriving are what's best for this industry. If for once Sony would stop shoving propietary memory down everyone's throats. That is killing their business.