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I think that theres more angles to this story than it might look.

Yeah, average consumers have ditched portable consoles for phones, but the question is how much software did they buy? Will they buy the same for the same prices on phones?
What i think is that phone gaming is a fad. The controls are poor and if they get complicated they dont sell as much. This means the gaming will never be as good. Do these average consumers really buy alot of premium prices software? I believe they dont. They will buy cheap little experiences.

So, the question that presents itself next is, if premium prices are not viable on phone gaming, where does portable gaming quality goes? Nowhere. I dont think phones can support premium gaming experiences anymore than portable consoles can. Actually quite the opposite because the portable consoles house the hardcore. I think the more that becomes obvious, the more people will realise that phones are social machines and not gaming devices.