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Great replies, some really interesting theories and feelings coming out of the hypothetical situation.

Some say they would go to PC, others saying they would follow japanese titles wherever they went.

Then quite a few believe Xbox and WiiU would have benifitted to varying degrees from Sony's absence.

One or two of you seem to think gaming would be better off without Sony as they "develop niche games that should not exist" and somehow impact negatively on "real games" (whatever that means)

I found it really interesting, the post that claimed it was a possibility that the game industry would have a collapse as was prophesised by many in the media. That would be pretty scary. 

Then a number of people credit the Sony reveal with pushing Phil Spencer to be the head of xbox and all the resulting goodness since, such as backwards compatability and the broadening of genres in the exclusive line-up. So in a way the Xbox userbase is a key benificiary of Sony still being in the industry. 

:)