domination allows for prices to be maintained at artificially high levels as without strong competition there is no incentive to cut prices. If you think Sony, Nintendo or Microsoft would lower prices and cut there own margins out of the goodness of their own hearts you are living in a dream land. Competition is good for consumers, lack of competition leads to stagnation, lack of innovation and high prices.

Well the PS2 was a lot more dominant then the PS1.  I agree with you on the games on N64 when your best selling game is a launch title and your top 20 are all first party that is never a good sign. 

cuz if only sony was in place they could charge you what ever they wanted and do what ever since you have no where else to go for console gaming

Competition is definitely good. The game industry is a tough one because I've also seen the benefits of having no viable competition. Ps2 owners in it's era can speak to this.

Domination isn't the same as monopoly... and at least in PS and PS2 case the developers were free to dev for other plats if they wanted and the system and games were cheap enough. Maybe if the company were trying real monopoly and control that would be a bad thing (like in the early days of NES and some of MS tentatives).

PSP -> VITA

I agree with you.  When one console dominates the market, the good far outweighs the bad.

-More people will purchase the same console and with how big online gaming is in today's age, it's more of a convenience to play with friends when they have the same console.
-It's hard to lend or borrow games from friends when they have different consoles.
-Less shovelware on consoles that aren't dominating.
-Saves devs on development costs when more people have one console. 
-More time can be spent on one console fixing the bugs and cleaning up code rather than the same amount of time or more has to be done on each console.  Some devs might just say fu** it and let you deal with a bug ridden game.
-Mostly guaranteed that the games you're interested in will come to your system of choice.

I think you guys are looking at the past with rose tinted glasses. the ps2 domination lead to the massive price and arrogant disregard for consumers and developers that was the start of the ps3 gen, it was only competition that turned that train wreck around.

This is false.  Were you around when past consoles were on the market or no?  Nintendo rarely drops their prices, even when they're losing, but even when in the lead, Sony's prices would drop within a year or two.  Titles that sold well would hit Greatest Hits status with that ugly green border and the prices would drop to $20.  Same went with PS2 except the red label on top of the case and bottom of the disc.

*edit*

Third parties prices are dictated by third parties while first party prices are dictated by first party.  So if one of  the three first party publishers didn't drop their prices, the third parties would regardless.  There's also PC.  You know PC, where prices are cheaper.  You think if there was a way that console developers keep $60 MSRP and they did that people wouldn't just jump ship and play games on PC?  

I think the only people who don't think one console dominating would work are people who haven't purchased games in a generation prior to the seventh gen.  Or people who are upset that their favored console isn't dominating.  If it was the Xbox One or the Wii U dominating, they'd be all for it.

NES pretty much had a monopoly throughout the generation the only markets they didn't dominate is the ones that they didn't choose to get into much because they thought those wouldn't generate much profits for them (South America and other small markets at that time).  But the Atari 2600 actually was bit more dominat when they first started since there where no third party pusblishers yet.  As far as having control over 3rd parties no one will ever be as dominant as Nintendo was during the NES era not only could they tell them what games to make for their system they also controlled how many copies could be made of each game since they manufactured all the cartriges.