I dont think we will ever have a "PS2" again so Before We jump outrageous conclusions:

Lets wait for a reveal: Rumors are lookin overboardish
Lets wait for developer response
Lets wait for Consumer response

I think they are referring to it's power and availability of third party games more so than 'sales' and its extensive library.

If the next nintendo console has competitive online and 3rd party support then who knows it may be a huge success

In terms of sales, I doubt it. The markets are too split now for a single console to completely annihilate the others in sales. In terms of third party games, it's plausible, but once the PS4/720 come out, most games will either be multi-plat between the three or the support will shift entirely to the PS4/720.

It won't be, nor in hardware power or in sales.

I should let you all know, I know someone who is high up at Activision and he says that the controller will cost up to $100, and the console is likely going to be another Gamecube-like effort from Nintendo.

hmm.. a nearly 3 way tie, like the last years of this generation, looks more likely to me right now than any "PS2"-like domination, but lets see what each company brings to the table

In order to have another PS2 (in sales) we will need a lot of the 3rd party exclusives games for the console, what I don't believe will happen in the next gen. However, Nintendo is the only company that have enough 1st party games to win a generation even without 3rd party support (mostly multipart games), so if Nintendo repeat the Wii line-up in next console but manage to get a better 3rd party support, I'm sure we can see Project Cafe selling more than 120 million unities in 5 years.