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I don't disagree with any of the points in the OP. But, the price to performance ratio, the plug-and-play nature, and the low price of entry are the main reasons I buy consoles. Those things all still exist, regardless of the availability of exclusive games.

With that said, it is getting difficult to justify owning multiple consoles. I've always been an XBox-first guy, because I want to play Halo and I like the XB controller. But, the XB controller works on PC, and Halo is no longer exclusive to XB. So, there's not much reason to buy XB anymore. The only real reason I can think of is that playing competitive shooters on PC with an XB controller equals certain, constant death from people playing with k&m.