I think overall it's a good thing - certainly for the developers. They get free press (and in some cases maybe money/deals).
The issue that most people seem to forget is that console manufacturers cannot be the sole provider of games for a console, because that would mean they would need a massive number of development teams and a would need to jam pack every conference with games, games and more games, which they would not be able to do. So 3rd party involvement is necessary.