Sometime in late 2000s, the console market matured and when market matures, a major shift in focus occurs in terms of business strategy. Instead of innovations and new ideas that are meant to bring in a new audience, in a mature market the focus for companies becomes to maximize revenue from the existing users.
To maximize revenue from existing users, you have to appeal to the majority with features, games and marketing. Problem is that true innovative ideas that rock the boat rarely do that. Let's look at 3 innovative consoles from the past:
Sega Dreamcast - Online gaming network - current standard amongst all consoles
Nokia Ngage - gaming on a smartphone - current standard amongst all smartphones
Nintendo Wii - motion control gaming
Only 1 out of those 3 was initially successful. While it is true that the other 2 stumbled with execution, the fact they were going in to uncharted waters only made it harder to steer the ship at the time. Why would Sony or Microsoft risk going in to uncharted waters when the gravy train is just getting good where they are?
Looking at next gen console sales and how much PS4 and Xbox One sold this holiday season only for showing up, it is pretty clear that we are not going to get anything revolutionary this gen from the big 3, which is unfortunate.
At this point I personally am sick and tired of the current console gaming standard and the idea of "faster with more pixels" isn't good enough for me to keep investing my time in to console gaming. I really hope some of these other gaming alternatives like Android consoles, Oculus Rift, Steambox...etc...provide some innovative ideas that will change gaming, even if they initially fail.
It's clear that Sony, Microsoft and Nintendo are perfectly happy maintaining the status quo and counting the $$$ hand over fist that gamers are sending their way.