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JNK said:

What do they have to offer beside their hardware and a handfull of popular exclusives?

It's not their brand that's the highest quality asset, it's their customers! 

Low end PCs will never replace consoles due to the fact that costs aren't coming down fast enough and there's also a lower amount of convenience too ... 

If they do want to get lower costs by doing a custom build then at that point they've transcended beyond being some gamer but most console users will simply not go through the trouble ... 

Ultra mobile devices like smartphones will never catch up to consoles in terms of giving similar experience when power consumption will limit that ... 

I also can't see cloud gaming taking off too when internet speeds aren't rising fast enough either ... 

In conclusion, both Microsoft and Sony have some great conditions compared to other avenues and that's all that makes their endeavors worthwhile ...