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I think it all comes down to pricing mostly.

Up until 2005, the idea of a console was basically a $300 box if you were pushing it. Anything higher would fail. And this was a time when people weren't used to the idea of buying $300-$750 gadgets every other year (smart phones and tablets).

Then the 360 happened. and not only did it come in at $400, it also started the trend of multiple priced SKUs. Then as if that want bad enough, Sony came with a $600 console. The only reason the PS3 even did as well as it did was due to the success of the PS2. And remember, this was all in 2005/2006 when $600 was equivalent to $750+ in today's money.

The PS4 has brought thing back to normal. Put things back at a price point that the general consumer is willing to pay for. The general consumer doesn't care about stuff like easier to develop for and the PS3 didn't lack games or get shafted. Publishers go where the userbase is. All this talk we hear of these days about third party ps4 exclusives has nothing to do with ease of develoent but rather size of the user base.

If by next year Sony could somehow get the PS4 down to an entry price of $199, it would hit 100M sold by the end of 2017.