Yup

Games? I'm assuming that's why anyone buys consoles.

In my case, it was mainly that it was so cheap. About 100 Euros cheaper than PS3 back at the time.
Unfortunately, that was how I learned the truth behind "Buy cheap, buy twice" - a few months later I bought a PS3 as well.

has better shooters, and you're friends own it,

Right now, the current adopters are people getting into the gen, kinect fans, and people looking to ditch cable tv. It's cheap enough that it works for all three of those demographics. The games are nice too, but if we look at the trend from before kinect release, 360 was very nearly going to plummet. Kinect is what kept it, and what still keeps it hanging in there.

This was at launch compared to PS3. Achievements and well designed controller with rumble. D-pad wad shit, but to me next gen needed rumble. I don't care about online play much.

Is the question "Why did people buy it initially?", or "Why is anyone still buying it?"

I mean both are interesting questions, but very different...

If you ask me, it was the lower price point and the early ammount of exclusives. Sadly they changed with time. A pretty little trap laid by microsoft once they had you.

If you just have the time for one console, 360 offers more IMO

XBLA, exclusives, and 360 multiplats not on Wii/PS3.

Plus Live itself makes any multiplat a little bit better on 360 due to it just being easier to connect with friends.

Its always been the library on offer at the very cheap price.