It would/will crowd the market, it would only affect US and EU killing MS consoles. It would fail to make any money.
Edit: If they really want to do this, they should work a deal with MS to partner on the Xbox brand (won't happen but it would be good for MS, and be the only chance for EA to get anywhere
Edit 2: Why would this be good for the, when thy have much less rick and have so much oppurtunity to sell the same games over and over on many different platforms?
I would cite regulation, but I know you will simply ignore it.