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I think a lot of Sonys domination in the hardware space is based on reputation and good will. I'm 21 years old and have it stuck in my head for as far back as I can remember that Sony products were always high end and incredibly reliable; This thought was enforced by the fact that we
A) Bought PS1 when it came out, the fat boxy model and it still works
B) Bought PS2 when it came out, the fat boxy model and it still works
and C) Bought PS3 first slim when it came, still works.

Couple that with the fact that they have a history of pioneering bleeding edge standards (blu-ray, 4K anyone?) and it should be obvious why consumers will jump on a $400 console that's setting the standard in performance.
Oh. And dem long game legs too. They support their hardware in the beginning, in the middle and in the end. It's like drinking a fine whine that only gets better as it ages. Just my incredibly biased yet grounded in reality point of view.