I don't think people look at previous gens as much as we think they do. Nes guys flocked to the Genesis because that system was awesome (though they stuck with Super Nes, too). Everybody flocked to the PS1 and then the PS2. PS2 guys flocked to the 360 and Wii (though they stuck with the PS3, too). It's a case by case thing. People aren't loyal to a brand, for the most part. They see something that they like and fits their needs and they buy it.
They look at the Wii U which doesn't even have as much support as the 7th gen and a small bump in performance. They look at the Xbox One which doesn't have as much power as the PS4 and its more expensive. Then they look at the PS4 which doesn't have a price disadvantage, a power disadvantage, or a third party support issue. It's the obvious choice. That doesn't take away from anything the 7th gen consoles did. Hell, I STILL play the 7th gen consoles with a smile on their face and I can honestly say that none of them were a disappointment.
