What thoughts?!  This is a silly doom thread based on nothing.  I have my skepticism about how well this gen will truly do (It is gonna be front loaded), but to assume that the market will be cut by more than half is rediculous since nothing indicates this will happen.

If it does, gaming is dead. I hope you know that.

I don't see a scenario where gaming ever dies.  There are more people gaming now than ever before.  I believe that it isn't gaming that will die, but the console format that will go away or become a niche market.  This new gen will be the last of the great console generations.  The WiiU gets a lot of flack, but it really foretells where the next generation 5-6 yrs from now will be.  Some version of a tablet or no specific hardware at all.  Sony and Nintendo have the best set up for continuing their software production.  Microsoft has the best position(of the 3) to have a long term ecosystem from not only gaming(phones and PC/win8).

gaming doesn't die, the interface will be different.

I don't think it will become a niche market. I think they wil become more casual at some point. I think this gen will be smaller than the one before, and PC's will take a lot of those numbers.